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100%B1" Fi mybusines Calculate Kolby's gross proft percentage and return on sales ratio. Kolby is planning to ac My Subscriptions Fati g Chapter 5 Homework 5 QUESTION 1 Partialy correct Mark 45.38 out of 60.00P Fag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transaction occurred between the Decker Company and Mann Store s, inc, during March: Mar. 8 Decker sold $14,200 worth of merchandise (59,900 cost) to Mann Stores with terms of 10 Mann Stores paid freight charges on the shipment from Decker Company, $210 12 Mann Stores returned $1.300 of the merchandise (5900 cost) shipped on March &. Decker received full payment for the net amount due Srom the March 8 sale. Decker sold %14,200 worth of merchandise ($9900 cost) to Minn Stores with terms of 2/10, n 30. 17 D Mann Stores returned goods that had been billed onignally at 51,000(5800 cost), Deckar issued a check for $980 Prepare the necessary journal entries for (a) the books of Decker Company and (b) the books of Mann Stores, inc. Assume hat both comparies use the perpetual inventory system DECKER COMPANY GENERAL 1JOURNAL 8 0