Campus Stop, Inc, Is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summartzed) have been selected for analysis a. Sold merchandise for cash (cost of merchandise $143,910). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $688). c. Sold merchandise (costing $5,4e0) to a customer on account with teres n/38. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the custoner in (c) had not yet paid. $257,488 1,630 12,000 6,00e 1,648 CP6-3 Part 1 Required: 1. Compute Net Sales and Gross Profit for Campus Stop Net Sales Gross Proft Campus Stop, Inc., Is a student co-op. Campus Stop uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis a. Sold merchandise for cash (cost of merchandise $143,910). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund $257,480 (original cost of merchandise $68e). c. Sold merchandise (costing $5,400) to a customer on account with terms n/30. 1,630 12,000 6,000 d. Collected half of the balance Owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (e) had not yet paid. 1,640 CP6-3 Part 2 2 Compute the gross profit percentage. (Round your enswer to 2 decimal places.) Gross Profit Percentage View transaction list Journal entry worksheet 2 3 4 S 6 8 Record the cash sales of $257,400. Note: Enter debits before credits. Debit Transaction General Journal Credit a(1) View general journal Clear entry Record entry rn Journal entry worksheet 1 2 4 8 Record the return by a customer of unsatisfactory merchandise that was in perfect condition. A cash refund of $1,630 was given to the customer Note: Enter debits before credits. Transaction General Journal Debit Credit b(1) View general journal Clear entry Record entry Journal entry worksheet