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Required information [The following information applies to the questions displayed below.) Campus Stop, Incorporated, is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $ 275,000 a. sold merchandise for cash (cost of merchandise $152,070). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $600). c. Sold merchandise (costing $9,000) to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. t. Anticipate further returns of merchandise (costing $200) after month-end from sales made during the month. 1,600 20,000 10,000 1,100 700 3. Prepare journal entries to record transactions (e) to (9. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Required information (The following information applies to the questions displayed below.) Campus Stop, Incorporated, is a student co-op. Campus Stop uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash cost of merchandise $152,070). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $600). c. Sold merchandise (costing $9,000) to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in (e). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $200) after month-end from sales made during the month. $ 275,000 1,600 20,000 10,000 1,100 700 . Campus Stop is considering a contract to sell merchandise to a campus organization for $15,000. This merchandise will cost Campus Stop $12,000. Would this contract increase (or decrease) Campus Stop's dollars of gross profit and its gross profit percentage? TIP: The impact on gross profit dollars may differ from the impact on gross profit percentage. (Round "Gross Profit Percentage to 1 decimal place.) Gross Profit Gross Profit Percentage by to 45.0%