Problem 5-1B Journal entries for merchandising activities-perpetual LO3 CHECK FIGURE: 2c. = $21,280 Part 1 Prepare general journal entries to record the following perpetual system merchandising transactions of Lyryx Company. Use a separate account for each receivable and payable; for example, record the sale on March 6 in Accounts Receivable-Tessier & Welsh. An asterisk (*) Identifies assignment material based on Appendix 5A or Appendix 58. Mar. 5 6 7 8 9 10 16 17 30 31 Purchased $48,000 of merchandise from Delton Suppliers paying cash. Sold merchandise for $36,000 to Tessier & Welsh: terms 2/10, n/30, FOB destination (cost of sales $27.100). Purchased merchandise from Janz Company for $71.000; terms 1/10, 1/45, FOB shipping point. Paid $1,540 shipping costs regarding the purchase of March 7. Sold merchandise for $46,000 to Parker Company: terms 2/10, n/30, FOB destination (cost of sales $32,900). Purchased $17.800 of merchandise from Delton Suppliers; terms 2/10, 1/45, FOB destination. Collected the balance owing from Tessier & Welsh regarding the March 6 sale. Paid for the March 7 purchase from Janz Company Paid for the March 10 purchase from Delton Suppliers. collected the balance owing from Parker Company regarding the sale of March 9 Part 2 Based on the information provided above, calculate (a) net sales, (b) cost of goods sold, and (c) gross profit for the month ended March 31, 2017