Part 2 QS 5-1 Components of income for a merchandibar 101 Referring to the format presented in Ethita 52. calculate gross profit and the profit or loss for each of the following Net sales Cost of sold QS 5-6 Merchandise purchase transactionsbergetua LOS Journalize each of the following transactions assuming a person entory systems 30 paid for the May 15 ustase is the cable discount Click here for a description OS 5 5. OS 5-7 Merchandise purchase allowance-perpetual LOS Joumalize each of the following transactions assuming a perpetual inventory system. Aug 2 Purchased $14.000 of merchandise wwentory: toms 1/5. IV 15. 4 Recetved a credit memo from the supplier confirming a $1,500 allowance regarding the August 2 purchase. 17 Paid for the August 2 purchase, loss the allowance Click here for a description of List: OS 5-7, OS 5-8Merchandise purchase: trade discount, return-perpetual LO3 Prepare journal entries to record each of the following transactions of a merchandising company. Show any supporting calculations. Assume a perpetual inventory system, Mar Purchased 500 units of product with a list price of $5 per unit. The purchaser was granted a trade discount or 20, and the terms of the sale were 2/10, 0. Roturned 50 derective units from tho March 5 purchase and reconod tuil crodit, Paid the amount Counting from the March purchase is the return on March 7 and applicable discount Part 2 QS 5-1 Components of income for a merchandibar 101 Referring to the format presented in Ethita 52. calculate gross profit and the profit or loss for each of the following Net sales Cost of sold QS 5-6 Merchandise purchase transactionsbergetua LOS Journalize each of the following transactions assuming a person entory systems 30 paid for the May 15 ustase is the cable discount Click here for a description OS 5 5. OS 5-7 Merchandise purchase allowance-perpetual LOS Joumalize each of the following transactions assuming a perpetual inventory system. Aug 2 Purchased $14.000 of merchandise wwentory: toms 1/5. IV 15. 4 Recetved a credit memo from the supplier confirming a $1,500 allowance regarding the August 2 purchase. 17 Paid for the August 2 purchase, loss the allowance Click here for a description of List: OS 5-7, OS 5-8Merchandise purchase: trade discount, return-perpetual LO3 Prepare journal entries to record each of the following transactions of a merchandising company. Show any supporting calculations. Assume a perpetual inventory system, Mar Purchased 500 units of product with a list price of $5 per unit. The purchaser was granted a trade discount or 20, and the terms of the sale were 2/10, 0. Roturned 50 derective units from tho March 5 purchase and reconod tuil crodit, Paid the amount Counting from the March purchase is the return on March 7 and applicable discount