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Need help : what was Sandhill's gross profit for July? Sandhill Company commenced operations on July 1. Sandhill Company uses a periodic inventory system. During

Need help : what was Sandhill's gross profit for July?

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Sandhill Company commenced operations on July 1. Sandhill Company uses a periodic inventory system. During July, Sandhill Company was involved in the following transactions and events: July 2 Purchased $14,600 of merchandise from Suppliers Inc. on account, terms 2/10, n/30, FOB shipping point. 3 Returned $1,200 of merchandise to Suppliers Inc. as it was damaged. Received a credit on account from Suppliers. 4 Paid $560 of freight costs on July 2 shipment. 8 Sold merchandise for $2,900 cash. 11 Paid Suppliers Inc. the full amount owing. 15 Sold merchandise for $6,200 on account, 1/10, n/30, FOB shipping point. 25 Received full payment for the merchandise sold on July 15. 31 Sandhill did a physical count and determined there was $10,400 of inventory on hand. Record the transactions in Sandhill Company's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record inurnal ontrios in the order nrosontod in then

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