CC6-1 Accounting for Merchandising Operations (L04, LO5] Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and Palacetherapy items. Nicole uses a perpetual Inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August Aug. 2 NGS sold 18 items of merchandise to Salon World an account at a selling price of $1,000 (total); terns 1/10, 3 NGS sold s identical items of merchandise to Cosmetics 4 You on account at a selling price of $865 (total); terms 6 Cosmetics 4 You returned one of the itens purchased on August 3. The iten could still be sold by Ngs in the future, and credit was given to the customer. 10 Collected payment fron Salon World, fully paying off the account balance. 20 Sold two at-home spa kits to Meghan Witzel tor $340 cash. The goods cost NGS 588. 22 Cosmetics 4 You paid its remaining account balance in full. Required: 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/ovent, select "No Journal Entry Required" in the first account field.) View transaction lit Journal entry worksheet 1 2 5 8 9 10 NGS sold 10 items of merchandise to Salon World on account at a selling price of $1,000 (total): terms 1/10, 1/30 han de Required: 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 5 8 10 NGS sold 10 items of merchandise to Salon World on account at a selling price of $1,000 (total); terms 1/10, 1/30. Note Enter debits before credits Date General Journal Debit Credit Aug 2 Record entry Clear entry View general Journal 2. Calculate the amount of Net Sales and Cost of Goods Sold for the transactions listed above. What is Nicole's Getaway Spa's gross profit percentage? (Round your percentage answer to 1 decimal place.) Net sales Cost of goods sold Gross profit percentage