CPI sells computer peripherals. At December $31,$ year $1,$ CPI's inventory amounted to $$500,000.$ During the first week in

January, year $2,$ the company made only one purchase and one sale. These transactions were as follows:

January $2$ Purchased $20$ modems and $80$ printers from Sharp. The total cost of these machines was $$25,000,$ terms $\frac{3}{10},\frac{n}{60}.$

January $6$ Sold $30$ different types of products on account to Pace Corporation. The total sales price was $$10,000,$ terms $\frac{5}{10},\frac{n}{90}.$ The

total cost of these $30$ units to $\frac{C}{P}$I was $$6,100($net of the purchase discount$).$

CPI has a full$-$time accountant and a computer$-$based accounting system. It records sales at the gross sales price and

purchases at net cost and maintains subsidiary ledgers for accounts receivable, inventory, and accounts payable.

Required:

b$.$ Prepare journal entries to record these transactions.

c$.$ Compute the balance in the Inventory account at the close of business on January $6.$

d$.$ Compute the cost of goods sold for the first week of January.

e$.$ Compute the gross profit and gross profit margin on the January $6$ sales transaction.