E#4 Martinez Construction Martinez Construction is a company. Complete all joumal entries for February 2011 The Company uses a PERIODIC inventory system. Instructions: Book the following journal entries. Calculate COGS, Gross Profit and Gross Profit %. # Date 1 1 Martinez placed an order for 15 doors at $100 per door, from Seattle's Doorhouse 2 5 Martinez takes delivery on the doors with terms 2/15, net 30. 3 7 Kraft Builders (customer) purchases 10 doors for $350 each, 1/10, net 45. Martinez receives an allowance of 10% for a defect on doors received in #2. Martinez pays for 15 doors delivered in #2 5 6 17 Kraft Builders returns one door and pays its invoice from #3 7 28 End of month inventory is $16.129 NOTEBEGINNING (February 1, 2011) BALANCES OF THE ACCOUNTS ARE AS FOLLOWS: Inventory $15,897 Accounts Payable $8,555 Cash $35,907