Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah's Cycles on February 1 for $350 (cost of sds sold of $280 ). On February 9, Sarah's Cycles returned to Cycle Wholesaling one-quarter of the merchandise from February (cost of goods returned was $70 ). Cycle Wholesaling uses a perpetual inventory system, and it allows returns only within 15 days of initial sale. Required: 1, to 3. Prepare the journal entries to record the sale on February 1, goods returned on February 9, and cash collected on March 2. 4. Calculate the gross profit percentage for the sale to Sarah's Cycles. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Calculate the gross profit percentage for the sale to Sarah's cycles. (Round your answer to 1 decimal place.) Complete this question by entering your answers in the tabs below. Prepare the joumal entries to record the sale on February 1, goods returned on February 9, and cash collected on March 2. (If) no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)