What types of items are not kept in a special journal?

a. Answer here

2) A merchandiser uses two new accounts, Merchandise Inventory and Cost of Merchandise Sold. Why is this? If a sale were made from a merchandiser, what would the entry be if the sale was for $10 and the actual cost to the merchandiser had been $7?
a. Answer here

3) How would you calculate gross profit in a merchandising type business class?
a. Answer here

4) Describe the role of accounting in business.
a. Answer here

Textbook:
Warren, C. S., Reeve, J. M., &Duchac, J. E. (2012). Financial accounting. (12th ed.). Mason, OH: South-Western Cengage Learning.