Question Background info : Listed below are some transactions for Oriole Products Ltd$.,$ which uses a perpetual inventory system and reports under ASPE.

May $2$ : Sold inventory on account to Pharoah Inc., terms $\frac{2}{10},\frac{n}{30}.$ Selling price $$22,000$; cost $$8,800.$

May $3$ : Received a portion of the inventory sold on the previous day because it was damaged and could never be sold in the

future. Selling price $$1,650$; cost $$660.$

May $5$ : Received a portion of the inventory sold on May $2$ that was in good condition and could be sold to other customers in the

future. Selling price $$2,650,$ cost $$1,320.$

May $7$ : Received payment in full from Pharoah Inc. for the amount due from the sale made on May $2.$

MY QUESTION :

Determine the Oriole's gross profit based on the May TransactionsRecord the journal entry or entries for each of the transactions above. $($List all debit entries before credit entries. Credit account titles

are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account

titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem.$)$

$($To record credit sale$)$

$($To record cost of merchandise sold$)$

Sales Returns and Allowances

$($To record sales$)$

$($To record inventory$)$