Exercise 5-4 (similar to) Question Help Sporty uses the perpetual inventory system and sells $740,000 of sporting goods to Super Sports under credit terms of 2/10, net 45 on April 10, 2020. Sporty's cost of the goods is $518,000, and it receives the appropriate amount of cash from Super Sports on April 20, 2020. Journalize Sporty's transactions on April 10, 2020, and April 20, 2020. How much gross margin did Sporty earn on this sale? Journalize Sporty's sale of the sporting goods. The journal entry for Sporty's cost of goods sold will be in the next step. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Apr 10 Choose from any list or enter any number in the input fields and then click Check Answer. ? parts remaining Clear All Check Answer Nike uses the perpetual inventory system and sells $300,000 of sporting goods to The Bay under credit terms of 1/10, net 30 on April 10, 2020. Nike's cost of the goods is $210,000, and it receives the appropriate amount of cash from The Bay on April 20, 2020. Journalize Nike's transactions on April 10, 2020, and April 20, 2020. How much gross margin did Nike earn on this sale? Journalize Nike's sale of the sporting goods. The journal entry for Nike's cost of goods sold will be in the next step. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Apr 10 Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check