TIMER Start Time: 08:43 PM / Remaining: 39 min End of Chapter Exercise 4.8 RESOURCES Financial information is presented here for two entities: utorial enter Exercise Bright Ltd Dull Ltd Sales $184,960 2 apter Exercise Sales returns ? $10,190 Net sales 166,230 187,320 Cost of sales 112,170 ? Gross profit ? 70,540 ults by Study Operating expenses 32,700 ? Profit ? 23,700 (a) Fill in the missing amounts. (Enter negative amounts using either a negative sign preceding the number e.g.-15, Bright Ltd & Dull Ltd Bright Ltd Dull Ltd Sales $184,960 Sales returns (10,190) Net sales $166,230 $187,320 Net sales $166,230 $187,320 Cost of sales (112,170) Gross profit $ $70,540 Gross profit $ $70,540 Operating expenses (32,700) Profit $23,700 $ DII FI F2 F3 F4 F5 F6 Return to Blackboard US Assessmentan cunmemeye Assessment to accompany Carlon, Financial Accounting: Reporting, Analysis and Decision Making, 6e PRINTER VERSION BACK NEXT Time: 08:43 PM/ Remaining: 39 min End of Chapter Exercise 4.6 On 10 June Grand Accessories Ltd purchased $5,900 of inventories from Highend Distributors Ltd, terms 2/7, /30. Grand Accessories Ltd pays the freight costs of $240 to Freight Masters on 11 June, Goods totalling $300 are returned to Highend Distributors Ltd for credit on 12 June. On 17 June Grand Accessories Ltd pays Highend Distributors Ltd the amount owing. Both entities use a perpetual inventory system. (a) Prepare separate entries for each transaction in the records of Grand Accessories Ltd. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round answers to decimal places, e.g. 4,126.) Grand Accessories Ltd General Journal Debit Credit Date Account and explanation $ 10 June 11 June 12 June 17 June Click if you would like to show Work for this questionCoen Show Work Attemptsio of 1 used SAVE FOR LATER SUBMIT ANSWER of ENG 949 PM US 25-Aug-20