On September 1, the beginning of its fiscal year, Thietke Company Ltd.had an inventory of 93 calculators at a cost of $21 each. The company uses a perpetual inventory system. During September, the following transactions occurred Sept 2 Purchased 676 calculators for $21 each from Digital Corp.on account, terms n/30 10 Returned 10 calculators to Digital for $210 credit because they did not meet specifications 11 Sold 235 calculators for $30 each to Thietke Book Store, terms n/30. 14 Granted credit of $300 to Thietke Book Store for the return of 10 calculators that were not ordered. The calculator were restored to inventory Sold 270 calculators for $30 each to Student Card Shop, terms 1/10, n/30. 21 29 Paid Digital the amount owing. 30 Received payment in full from the Student Card Shop. Part 1 Record the September transactions. (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 0 for the amounts. Round answers to O decimal places, e125) Date Account Titles and Explanation Debit Credit Sept. 2 10 (To record credit sale) (To record cost of merchandise sold) 14 To record return of goods) 14 To record cost of merchandise returned) 21 To record credit sale) 21 To record cost of merchandise sold) 29 30 The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Riverbed Ltd. sold goods to Concord Corp. for $68,900, terms 2/10, n/30, FOB shipping point. The inventory had cost Riverbed $34,800. Shipping costs of $860 were paid by the appropriate company. Concord returned unwanted merchandise to Riverbed. The returned merchandise has a sales price of $2,000, and a cost of $1,160. It was Dec. 3 7 8 restored to inventory. 11 Riverbed received the balance due from Concord. Calculate the gross profit earned by Riverbed on the above transactions. Gross Profit $ Calculate gross profit Gross proft $