Purchase RU Compute the following for Clink: a. Cost of goods sold. b. Gross profit. >Problems Group A For all problems, assume the perpetual inm otherwise. Round all numbers to the nearest whole dollar unless stated otheni es 2, 3 P5-34A Journalizing purchase and sale transactions Journalize the following transactions that occurred in September 2018 for Aquamarins No explanations are needed. Identify each accounts payable and accounts receivabye with the vendor or customer name. Aquamarines estimates sales returns at the end each month. Purchased merchandise inventory on account from Sharpner Wholesalers $5,500. Terms 2/15, n/EOM, FOB shipping point Sep. 3 Paid freight bill of $85 on September 3 purchase. Purchased merchandise inventory for cash of $1,600. 4 4 6 8 Returned $1,300 of inventory from September 3 purchase. Sold merchandise inventory to Herman Company, $5,700, on account. Terms 2/15, n/35. Cost of goods, $2,565. Purchased merchandise inventory on account from Tucker Wholesalers, $6,000. Terms 3/10, n/30, FOB destination. 9 Made payment to Sharpner Wholesalers for goods purchased on September 3, less return and discount. 10 12 13 15 Received payment from Herman Company, less discount. After negotiations, received a $500 allowance from Tucker Wholesalers. Sold merchandise inventory to Jerome Company, $2,800, on account. Terms n/EOM. Cost of goods, $1,200. 22 Made payment, less allowance, to Tucker Wholesalers for goods 23 Jerome Company returned $200 of the merchandise sold on Septembe 25 Sold merchandise inventory to Small for $1,800 on account th purchased on September 9. 15. Cost of goods, $80. Terms of 3/10, n/30 was offered, FOB shipping point. As a courtesy Small, $40 of freight was added to the invoice for which cash ws Aquamarines Received payment from Small, less discount. Received payment from Jerome Company, less return. a courtesy to b 29 30