prepare journal entries and calculate gross profit percentage! thank you!

E6-14 (Algo) Analyzing and Recording Sales and Gross Profit with Sales Returns [LO 6-4, LO 6-6] Cycle Wholesaling sold merchandise on account with terms n/60, to Sarah's Cycles on February 1 for $900 (cost of goods sold of 5580) On February 9, Sarah's Cycles returned to Cycle Wholesaling one quarter of the merchandise from February 1 (cost of goods returned was $145) Cycle Wholesaling uses a perpetual inventory system, and it allows returns only within 15 days of initial sale Required: 1. to 3. Prepare the journal entries to record the sale on February 1, goods returned on February 9, and cash collected on March 2 4. Calculate the gross profit percentage for the sale to Sarah's Cycles e Complete this question by entering your answers in the tabs below. Red 1 to 3 Reg 4 Prepare the fourrul entries to record the sale on February 1, goods returned on February 9, and cash collected on March 2. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction Journal entry worksheet Record the sales on account of $900 with terms n/60. Note: Enter debits before credits. Date General Journal Debit Credit February 01 Record entry Clear entry View general journal Reno Req 4 > Journal entry worksheet Record the cost of goods sold of $580. Note: Enter debits before credits. Date General Journal Debit Credit February 01 Record entry Clear entry View general Journal Req 4 > View transaction list Journal entry worksheet Journal entry worksheet Record the cost of the sales returned of $145. Note: Enter debits before credits. General Journal Debit Credit Date February 09 Record entry Clear entry View general Journal Ro Req 4 > View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Req 1 to 3 Reg 4 Calculate the gross profit percentage for the sale to Sarah's Cycles. (Round your answer to 1 decimal place.). Gross Profit Percentage %