Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah's Cycles on February 1 for $1,050 (cost of goods $625). On February 9, Sarah's Cycles returned to Cycle Wholesaling one-quarter of the merchandise from February 1 (costo returned was $165). Cycle Wholesaling uses a perpetual inventory system, and it allows returns only within 15 days of initials Required: 1. to 3. Prepare the journal entry to record the sales, Goods returned on February 9 and Cash collected on March 2. 4. Calculate the gross profit percentage for the sale to Sarah's Cycles Complete this question by entering your answers in the tabs below. Req 1 to 3 Reg 4 Prepare the journal entry to record the sales, Goods returned on February 9 and Cash collected on March 2. (If no entry is required fe transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Date General Journal Credit Debit 1.050 1 February 01 Accounts Recolvablo