Question: Question 1 (8 points) Given below are account balances for Charlie Company: Gross sales, $104,000 Sales returns and allowances, $8,000 Selling expenses, $12,000 Cost of

Question 1 (8 points) Given below are account balances for Charlie Company: Gross sales, $104,000 Sales returns and allowances, $8,000 Selling expenses, $12,000 Cost of goods sold, $42,000 Interest expense, $3,000 How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example - enter 46% as.46) Your Answer: Answer Question 2 (8 points) Merchandise is sold on account on January 16, terms 2/10, n/30, and recorded by debiting Accounts Receivable and creditinn Calan nennnn 12

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