---- B. Freja Nilsson opened Freja's Cosmetic Market on December 1. Freja offers no discounts. The following transactions occurred in December: 3 5 1 Freja Nilsson invested $6,000 in the Cosmetic Market from her personal savings account. 5 From the cash register tapes, lipstick cash sales were $5,100. Cost of inventory was $3,825. From the cash register tapes, eye shadow cash sales were $1,700. Cost of inventory was $1,275. 8 Sold lipstick on account to Alex Kozlosky Co., $200, sales ticket No. 1. Cost of inventory was $150. 9. Sold eye shadow on account to Sabin Co., $800, sales ticket No. 2. Cost of inventory was $600. 15 Issued credit memorandum No. 1 to Alex Kozlosky Co. for $100 for lipstick returned. Cost of inventory returned was $75. 19 Sabin Co. paid half the amount owed from sales ticket No. 2, dated December 9. 21 Sold lipstick on account to Shimmer Co, S350, sales ticket No. 3. Cost of inventory was $262.50. Sold eve shadow on account to Wease Co., $1,000, sales ticket 24 127euebraoru/d/-P7001010 Questions, Classroom Demonstration Exercises, Exercises, and Problems Cost of inventory was $262.50. 24 Sold eye shadow on account to Wease Co., $1,000, sales ticket No. 4. Cost of inventory was $750. 25 Issued credit memorandum No. 2 to Shimmer Co. for $250 for lipstick returned from sales ticket No. 3, dated December 21. Cost of inventory returned was $187.50. 29 Cash Sales taken from the cash register tape: Lipstick $900 (cost of inventory $675) and eye shadow sales $2,900 (cost of invento $2,175) 29 Sold lipstick on account to Sabin Co., $300, sales ticket No. 5. Cost of inventory was $225. 31 Received payment from Sabin Co. for sales ticket No. 5, dated December 29. Journalizing, recording, and posting sales and general journals; preparing a schedule of accounts receivable (45 min) preparing a schedule of accounts receivable (45 min) Check Figure Total Schedule of Accounts Receivable $1,500 Required a. Journalize, record, and post as appropriate. b. Prepare a schedule of accounts receivable for the end of December. P6-5B. Using the data from P6-4B, calculate the following: a. Net sales b. Gross profit