Pequired information [The following information applies to the questions displsyed below] Handy Howard's Incorporated, is a student co-op. Handy Howard uses a perpetual imventory systom. The following transactions (summarized have been selected for analysis: a. Sold merchandise for cash (covt of merchandise 5167,470 ). b. Recelved merchandise retumed by custosers as unsatisfectory (tout in pecfect cendition) for. cash refund (eripinal cost of nerchandise 1644 ). c. Sotd serchandise (costing $9,930 ) to a customer on account with terses n/3s. d. Collected half of the balance oved by the customer in (c). e. Grasted a partsial stlowance relating to credit sales the custoeer in (c) had not yet paid. 11,180 the nobith. ato Aequired: 1. Compute Net Sales and Gross Profit for Handy Howaed. Pequlred information [The following infarmation applies to the questions doplayed below] ] Handy Howard's incorporated, is a student co-op. Handy Howard uses a perpetual inventory system. The following transactions (summarised) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise 3867,470). refund lerigival cest of merchandise s64ti. the enth. 3. Prepore journal entries to record transactions (of to io of no entry is required for a transaction/event, select "No Journal Entry Pequired in the first account field.) Required information [The following information applies to fhe questions displayed below] Hondy Howard's incorporated, is a student co-op. Handy Howard uses a perpetual inventory system. The following transactions (summarizedis herve been selected for analysis: A. Sold herchandise for cash (cest of merchandise 3167 , 47a). 6. Meceived nerchandise feturned by custabers as bnsatisfactory (but in perfect condition) for cash d. Collected halt of the balance sued by the custeser in (e). e. Granted a partiat allowance relating to credis sales the custoeer in (c) had not yet paid. 1365,280 the nenth. 1,749 22,200 11,160 1,320 110 4. Handy Howard is considering a contract to sed merchandose to a Handy Howard organization for 50,200 . The merchandise will cost Handy Howard $13,760. Would this contract increase (or decrease) Handy Howaed dollars of gross profit and its gross profit percentage? TiP. The impact on gross peote dollars may differ from the impact on gross profit percentage, (Plound "Gross Profit Percentage" to 1 decimal piace. Required information [The following informution applies to the questions displayed below] Handy Howards incorporated, is a student co-op. Handy Howard uses a perpetual inventory system. The following transactions (summarited) have been selected for analysis: 9. Sold merchandise for cash (cost of aerchandise $167,470 ). b. Received serchassise returnes by custoners as unsatisfactory (but in perfect condition) for cash refund (originat cost of merchandise $644 ). d. Callected half of the balance sutd by the custoner in (c). e. Cranted a partial allowance relating to credit sales the eviteaser in (e) had not yet pasd. 1,32 the sonth. 010 2. Compute the gross profit percentage. (Alound your answer to 1 decimal place.)