S5-6: JOURNALIZING SALES TRANSACTIONS-PERPETUAL INVENTORY Suppose Piranha.com sells 2,500 books on account for $15 each ( cost of these books is $22,500) on October 10, 2012. One hundred of these books ( cost $900 ) were damaged in shipment, so Piranha.com later received the damaged goods as sales returns on October 13, 2012. Then the customers paid the balance on October 22, 2012. Credit terms offered to the custumer were 2/15, net 60. Requirement: 1. Journalize Piranha.com's October 2012 transactions S5-6: JOURNALIZING SALES TRANSACTIONS-PERPETUAL INVENTORY Recall that Piranha.com sells 2,500 books on account for $15 each (cost of these books is $22,500 ) on October 10, 2012. - Now.journalize cost of goods sold q S5-6: JOURNALIZING SALES TRANSACTIONS-PERPETUAL INVENTORY Now, one hundred of these books ( cost $900 ) were damaged in shipment, so Piranha.com later received the damaged goods as sales return on October 13, 2012. - Journalize cost of goods returned 3 S5-6: JOURNALIZING SALES TRANSACTIONS-PERPETUAL INVENTORY Then the customer paid the balance on October 22, 2012. Credit terms offered to the customer were 2/15, net 60/ 4 S5-7: CALCULATING NET SALES AND GROSS PROFIT- PERPETUALINVENTORY 1. Calculate net sales revenuse for October 2012. 2. Calculate gross profit for October 2012. 5