Crusader Inc. is a sporting goods retailer that started business on October 1, 2015 when the owners invested $25,000 cash in exchange for shares of stock Crusader uses the perpetual inventory system to account for merchandise, the net method to account for purchases discounts and the gross method to account for sales discounts. Crusader uses subsidiary accounts receivable and accounts payable ledgers. The following merchandise transactions occurred during October and November, 2015: Purchased $ 2,000 of merchandise on account from Bulldog Manufacturers. Credit terms: 2/10, n/30 Sold goods costing $1, 500 at a price of $2,000 on account to Upward Community Sports, a non- profit organization. Terms: 2/10, n/30 Paid Bulldog Manufacturers for the merchandise purchased on Oct. 2 Received payment in full from Upward Community Sports. Purchased $3,000 of merchandise on account from Bulldog Mfrs. Credit terms- 2/10 n/30. Sold goods costing $3, 100 at a cash price of $4, 650. Paid Bulldog Mfrs. the balance owed on Oct 16 purchase. A physical count of merchandise indicated merchandise on hand totaled $180. Nov 20 Paid Bulldog Mfrs. The amount owed from Oct. 16 purchase. a. Prepare journal entries for each of the transactions listed above. b. Calculate Crusader's Gross Profit and Gross Profit percentage for the month ended Oct. 31, 2015 c. Crusader, Inc. has an open line of credit at the local bank. The line-of-credit carries a 12% annual interest rate on any outstanding balance. Should Crusader have borrowed enough cash to pay the Oct. 16 purchase within the discount period? Support your answer with clearly labeled calculations