Question: (2 points) Define the return on sales ratio. What does this ratio measure? Problem 1. (Seller Books = 11 points) The following are selected transactions

(2 points) Define the return on sales ratio. What does this

(2 points) Define the return on sales ratio. What does this ratio measure? Problem 1. (Seller Books = 11 points) The following are selected transactions of Shadow, Inc.: May 10 16 19 Sold and shipped on account to Mystic, Inc. merchandise for $2,000 ($1,200 cost), terms 2/10, n/30. Mystic, Inc. returned merchandise billed at $400 ($240 cost) on May 10. Received a check from Mystic, Inc. for full settlement of the May 10 transaction. Record the above transactions in general journal form as they would appear on the books

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