5 Required information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: 4 $87,200 a. Sold merchandise for cash (cost of merchandise $46,797) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $630 ). c. Sold merchandise (costing 59,025 ) to a customer on account with terms 1/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,050 19,000 9,500 304 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage % [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: of 4 $87,200 a. Sold merchandise for cash (cost of merchandise $46,797) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $630 ). C. Sold merchandise (costing $9,025 ) to a customer on account with terns n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,050 19,000 9.500 301 ok aces 3. Prepare journal entries to record transactions (a)-(e) (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Transaction a(1) Debit 87,200 1 Cash Can 07 Check my 17 Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: Part 4 of 4 587,200 a. Sold merchandise for cash (cost of merchandise 546,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise 5630 ). c. Sold merchandise (costing 59,025 ) to a customer on account with terns w/60. d. Collected half of the balance owed by the customer in (c) e. Granted a partial allowance relating to credit cales the customer in (c) had not yet paid. 1,050 19,000 9,500 304 0.4 points Skipped 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $24,000. This merchandise will cost Hair World $14,320. What would be the increase (or decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) References by Gross Profit Gross Profit Percentage 10 apter 6 Homework Suod Help Save & Exit SL Check my w 18 rt 1 of 2 Required information [The following information applies to the questions displayed below) Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August. Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $720 and the merchandise basket normally sells for $180. Together, the bundle was sold to Val Amy for cash at a selling price of $660 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost NOS $180. Aug. 3 Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of 5700 (total); terms n/30. The goods cost NOS 5600 Aug. 6 Cosmetics R Us returned one of the five itens purchased on August 3. The item could still be sold by Nos in the future and credit was given to the customer. Aug. 10 Val Any used one of the three spa treatments she had purchased as part of the bundlos sold to her on August 2. Aug. 20 Sold two at home spa kits to Meghan Witzel for $500 cash. The goods cost NGS $196. Aug. 22 Cosmetics R Us pold its remaining account balance in full eBook ferences Required: 1. Prepare journal entries for each transaction. No additional sales returns are expected. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)