Gift Shop uses a perpetual inventory system. Journalize the following transactions for Trudie's TrinketsGift Shop. Explanations are not required. ​(Record debits​ first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole​ dollar.)Feb. 3 Purchased $3,000 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $400 of defective merchandise purchased on February 3. 9 Paid freight bill of $500 on February 3 purchase. 10 Sold merchandise inventory on account for $4,400. Payment terms were 3/15, n/30. These goods cost the company $2,200. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 customer in full settlement of their debt.

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Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)

1. using only the amounts given, compute net cash provided by operations, both without and with the reclassification of the receivables. which reporting makes moss look better? 2. under what condition would the reclassification of the receivables be ethical? 3. unethical?