The following transactions for Westcoast Tire, Co., occurred during July:

Jul 4 Purchased $5,500 of merchandise on account from Meridian Tire Supply.

Terms, 1/15. n/45, FOB shipping point. Meridian Tire Supply. prepaid the $475 shipping cost and added the amount to the invoice,

7 Purchased $300 of supplies on account from Office Express.

Terms, 3/10, n/30, FOB destination.

9 Sold $1,100 (cost, $630) of merchandise on account to P. Larson.

Terms. 2/15. n/45, FOB destination.

11 Paid $50 freight charges to deliver goods to P. Larson.

13 Returned $500 of the merchandise purchased on July 4 and received a credit

15 Sold $900 (cost, $545) of merchandise to cash customers.

16 Paid for the supplies purchased on July 7.

18 Paid Meridian Tire Supply the amount due from the July 4 purchase in full.

20 P Larson returned $200 (cost. $115) of merchandise from the July 9 sale

22 Purchased $3,400 of inventory. Paid cash.

23 Received payment in full from P. Larson for the July 9 sale.

Requirements

1. Journalize the transactions on the books of Westcoast Tire, Co.

2. What was Westcoast Tire's gross profit for the month of July?