Problem 6-197 (LO 6-4, LO 6-5, LO 6-51] Two different companies. Vogel and Hatcher, entered into the following inventory transactions during December. Both companies use a perpetual inventory system December 3 - Vogel Corporation sold inventory on account to Hatcher Corp. for $487000, terms 3/10, 1/30. This inventory originally cost Vogel $309,000 December 8 - Hatcher Corp. returned inventory to Vogel Corporation for a credit of $3,700. Vogel returned this inventory to inventory at its original cost of $2,348 December 12 - Hotcher Corp. paid Vogel Corporation for the amount owed. Required: a. Prepare the journal entries to record these transactions on the books of Vogel Corporation b. What is the amount of net sales to be reported on Vogel Corporation's income statement? c. What is the Vogel Corporation's gross profit percentage? Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the journal entries to record these transactions on the books of Vogel Corporation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction flat Journal entry worksheet Record the entry for sale of inventory on account. Note: Enter debits before credits General Journal Date Dec 03 Debit Credit