I tried many times solving this question parts but I couldnt

CP6-3 Recording Cesh Sales, Credit Sales. Seles Discounts, Sales Returns, nd Sales Allowances and Analyzing Gross Proft Percentage LO 6-4,LO 6-5 t The tollowng invormaton applies to the questions dspleyed below Campus Stop, Inc, is a student co-op Campus Stop uses a perpesual inventory system The folowing transactions (summanired) have boen selected for anslysis n Sold b. Receved merchendise returned by customers as merchandise for cash jcost of merchandise $ 154 830 281100 but in pertect condition) for cash retund jorignal cost of merchanase $840 c. Sold merchandse (costing $10,350) to a customer on account with terms 2/10, n230 d Colected heif of the baiance owed by the customer in ic wihi the discount penod 1640 23,000 1270 e Granted a pertial ailowance releting 1o credt saies that the cusscmer in c) had non yet paid 1860

Solution

a)

1) Sales Revenue = Cash Sale + Credit Sale

= $281100 + $23000

= $304100

2) Net Sales = Sales Revenue - Sales Return - Sales Discount - Sales Allowances

= $304100 - $1640 - ($23000*2%*(1/2)) - $1860

= $304100 - $1640 - $230 - $1860

= $300370

Cost of merchandise sold for cash = $154630

less : Cost of merchandise returned = ($840)

Add :Cost of merchandise sold on credit = $10350

Cost of Goods Sold = $164140

3) Gross Profit = Net Sales - Cost of Goods Sold

= $300370 - $164140

= $136230

b) Gross Profit as a Persentage of Sales :-

c) Journal Entries :-

d)

The company no benefit in the offer.

Hence, it not accept the contract.

Particulars	Amount($)	Percentage
Net Sales	300370	100%
Less : Cost of Goods sold	(164140)	55%
Gross Profit	136230	45%