please calculate the gross profit!!

Question 2 of 5 2.08/4 View Policies Show Attempt History Current Attempt in Progress The following transactions occurred in April and May, Both companies use a perpetual inventory system Apr. 5 6 8 Blossom Company purchased merchandise from DeVito Company for $11.500, terms 2/10, 1/30, FOB shipping point DeVito had paid $ 7,500 for the merchandise. The correct company paid freight costs of $ 250. Blossom Company returned damaged merchandise to DeVito Company and was given a purchase allowance of $ 1.500, DeVito determined the merchandise could not be repaired and sent it to the recyclers. The merchandise had cost Devito 78 Blossom paid the amount due to DeVito Company in full, May 4 a (a) Your Answer Correct Answer Your answer is partially correct 12C ENG O 0 here to search i End PgUp PrtScn FB Home 59 FYO DII TU F7 2.08/4 ID Date Account Titles and Explanation Debit Credit Apr. 5 Merchandise Inventory $11.500.00 Accounts Payable 511.500.0% (Purchase on account.) Apr. 6 Merchandise Inventory 250,00 $250.00 Cash (To record cash payment of freight.) $1,500.00 Apr. 8 Accounts Payable $1.500.00 Merchandise Inventory (To record purchase return.) $10,000.00 May 4 Accounts Payable 510.00.00 Cash (Payment on account.) ENG 20 2021 12C O search PgUp PC End Drtsen Home Prepare the journal entries to record the above transactions for Devito Company. (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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Apr. 5 Accounts Receivable $11,500 $11.50 Revenue Alc (To record sales on account.) $7.500 Apr. 5 Cost of Goods Sold 57.50 Merchandise Inventory (To record cost of goods sold.) $1,500 Aor8 Revenue $1.50 Accounts Receivable $978 Apr. 8 Inventory A/c Dr. 102 12C Castro Good Gold OBI E arch Pou List of Accounts Attempts (c) Calculate the gross profit earned by DeVito on these transactions Gross profit e Textbook and Media List of Accounts Attempts: 0 of 3 used Subm Save for Later 12C o . here to search PrtScn 58 Home 59 NI x