Question: ACCOUNTING DRILL FABM II Read each problem carefully and solve for the answers. Follow the solutions provided in the previous discussion. 1. KGL merchandise sold

ACCOUNTING DRILL FABM II Read each problem carefully and solve for the answers. Follow the solutions provided in the previous discussion. 1. KGL merchandise sold for P 380 , 0 0 0 cash and P 254 , 0 0 0 in account . The cost of the merchandise sold is P 537, 0 0 0 . What is theamountofthegrossprof it ? 2. The KGL staffaccounted 670 boxes of skin care products , whichispriced at 1,80 0 per box . How much is the Cost of Goods Sold ? 3. On February 12, 2022, KGL Company sold merchandise for 12,000 on account. The credit terms are 2/30, n/60. The customer paid on February 28,2022. How much would G ONLINE COMPANY collect from this sale? . Record the necessary journal entries on February 12, 2022 and February 28,2022

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