Referring to the format presented in Exhibit $5\mathrm{.}2,$ calculate gross profit or loss for each of the following. Exercise $5-2$ Recording journal entries for merchandise purchase transactionsperpetual LO$3$

Journalize each of the following transactions assuming a perpetual inventory system.

Feb $1$: Purchased $$17,000$ of merchandise inventory: terms $\frac{1}{10.}\frac{n}{30}.$

$5$: Purchased for cash $$8\mathrm{.}200$ of merchandise inventory.

Feb $6$: Purchased $$22\mathrm{.}000$ of merchandise inventory: terms $\frac{2}{15},\frac{n}{45}$

$9$: Purchased $$1\mathrm{.}900$ of office supplies: terms $\frac{r}{15}$

$10$: Contacted a major supplier to place an order for $$200,000$ of merchandise in exchange for a $30\%$ trade discount to be shipped on April $1$ FOB destination

$11$: Paid for the merchandise purchased on February $1$

Mar $24$: Paid for the office supplies purchased on February $9.$

$23$: Paid for the February $6$ purchase.

Exercise $5-3$ Recording journal entries for merchandise purchase transactions$-$perpetual L$03$

Jaleh Mehr is the owner of the retail store $151$ Jeans. She purchases jeans from a number of