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please answer each one clearly Required information The following information applies to the questions displayed below.) The following are the sales transactions of EcoMart Merchandising,

please answer each one clearly
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Required information The following information applies to the questions displayed below.) The following are the sales transactions of EcoMart Merchandising, EcoMort uses a perpetual inventory system and the gross method Oet. 1 Sold merchandise for $2,700, with credit tera n/30, Lnvoice dated October 1. The cost of the herchandise la $1,500. the customer in the October 1 sale returned $270 of merchandise for tull credit. The nerehandise, which had cost $150, is returned to inventory. Sold merchandise for $1,300 cash cost of the merchandise 1 5930. 38 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above transactions, to analyze each transaction by indicating its effects on the components of the income statement- specifically, identify the accounts and amounts (including + or -) for each transaction. Income Statement Components Oct. 1 Increase/Decrease Octo Increase/Decrease Oct 9 Increase/Decrease Oct 30 Increase/Decrease Amount Amount Amount Sales grosa) Sales discounts Sales retums and allowances Net sales Cost of goods sold Gross profit Oct. 6 Increase/Decrease Oct. 9 Increase/Decrease Amount Amount Oct. 30 Increase/Decrease Amount

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