The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. October 1 Sold merchandise for $1,700, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,000. The customer in the October 1 sale returned $170 of merchandise for full credit. The merchandise, which had cost $100, is returned to inventory. October 6 October 9 Sold merchandise for $800 cash. Cost of the merchandise is $530. October 30 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above transactions, to analyze each transaction by indicating its effects on the components of the income statement- specifically, identify the accounts and amounts (including + or -) for each transaction. Income Statement Components Sales (gross) Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit October 1 Increase/Decrease Amount October 6 Increase/Decrease Amount October 9 Increase/Decrease Amount October 30 Increase/Decrease Amount

The following are the sales transactions of EcoMart Merchandising EcoMart usps a perpetual inventory system and the grossmethod. merchandise is $1, 900 . oeteber 6 . The custoner in the october 1 wale returned $170 of eerchondise for full eredit. The merchandise. mitch had cose sies, is returned to inventory. october 9 sold merchandise for soes cash. Cost of the merchandise is 3530 : october se Alecelved payment for the anowot due fron the october 1 salp less the retion on october 6. Use the above transactions, to analyze each transoction by indicating its effects on the components of the income statementspecifically, identify the accounts and amounts (including +or ) for each transaction