Two different companies, Vogel and Hatcher, entered into the following inventory transactions during December. Both companies use a perpetual Inventory system. December 3-Vogel Corporation sold Inventory on account to Hatcher Corp. for $495,000, terms 2/10, n/30. This Inventory originally cost Vogel $317,000. December 8-Hatcher Corp. returned Inventory to Vogel Corporation for a credit of $4,300. Vogel returned this Inventory to Inventory at its original cost of $2,754. December 12-Hatcher Corp. paid Vogel Corporation for the amount owed. Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the journal entries to record these transactions on the books of Vogel Corporation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 5 Record the entry for sale of inventory on account. Note: Enter debits before credits. Date 13 General Journal Debit Credit Dec 03 Accounts Receivable View general journal Record entry Clear entry Required B> View transaction list irst account field.) Journal entry worksheet < 2 3 Record the entry for cost of inventory sold on account from inventories. Note: Enter debits before credits. Date Dec 03 General Journal Debit Credit Record entry Clear entry View general journal < Prev 5 of 10 Nex View transaction list Journal entry worksheet < 1 2 3 5 Record the entry for return of inventory sold on account. Note: Enter debits before credits. Date Dec 08 General Journal Debit Credit Record entry Clear entry View general journal > View transaction list Journal entry worksheet < 1 2 3 4 5 Record the entry for reversal of cost of inventory sold on account. Note: Enter debits before credits. Date Dec 08 General Journal Debit Credit Clear entry View general journal Record entry Prev 5 of 10 Next Prepare the journal entries to record these transactions on the books of Vogel Corporation. (If no entry is requir transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 5 Record the entry for receipt of accounts receivable and related sales discount for terms 2/10, n/30. Note: Enter debits before credits. Date Dec 12 General Journal Debit Credit Record entry Clear entry View general journal Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the amount of net sales to be reported on Vogel Corporation's income statement? Net Sales B Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the Vogel Corporation's gross profit percentage? (Round your answer to the nearest whole percent (i.e., 0.1 should be entered as 12).) Gross profit percentage % Two different companies, Vogel and Hatcher, entered Into the following Inventory transactions during December. Both companies use a perpetual Inventory system. December 3-Vogel Corporation sold Inventory on account to Hatcher Corp. for $495,000, terms 2/10, n/30. This Inventory originally cost Vogel $317,000. December 8-Hatcher Corp. returned Inventory to Vogel Corporation for a credit of $4,300. Vogel returned this Inventory to Inventory at its original cost of $2,754 December 12-Hatcher Corp. pald Vogel Corporation for the amount owed. Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Journal entry worksheet Record the entry for sale of inventory on account. Note: Enter debits before credits. Date Dec 03 General Journal Debit Credit Record entry Clear entry View general journal Required B > 13 Journal entry worksheet < 1 2 O 5 Record the entry for cost of inventory sold on account from inventories. Note: Enter debits before credits. Date Dec 03 General Journal Debit Credit Record entry Clear entry View general journal Required B > View transaction list Journal entry worksheet < 1 2 5 Record the entry for return of inventory sold on account. Note: Enter debits before credits. Date Dec 08 General Journal Debit Credit Record entry Clear entry View general journal Required B> View transaction list Journal entry worksheet 1 2 4. 5 Record the entry for reversal of cost of inventory sold on account. Note: Enter debits before credits. Date Dec 08 General Journal Debit Credit Record entry Clear entry View general journal Required B> Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the amount of net sales to be reported on Vogel Corporation's income statement? Net Sales a. Prepare the journal entries to record these transactions on the books of Vogel Corporation. b. What is the amount of net sales to be reported on Vogel Corporation's Income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the Vogel Corporation's gross profit percentage? (Round your answer to the nearest whole percent (i.e.. 0.1234 should be entered as 12).), Gross profit percentage %