4. 5. Sold merchandise inventory for $37,000 on account. The cost of these goods to Hannover was $23,000 6. Merchandise that had been sold to a customer for $3,000 was returned to Hannover. These goods had been sold on account and had not been paid for when they were returned. The returned goods had cost Hannover $2,400, 7. A customer called to complain about the quality of goods Hannover had sold it for $1,000. The customer agreed not to return the goods if Hannover granted a sales allowance of $100, which Hannover agreed to do. These goods had been sold for cash, so the allowance was in the form of a cash refund. Required Show how each of these transactions would affect Hannover Co.'s financial statements using the FSETs provided below. Use brackets, (), to indicate amounts being subtracted. Below the FSET for each transaction, prepare the corresponding journal entry