Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $289,900 a. Sold merchandise for cash (cost of merchandise $158,710). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $900). c. Sold merchandise (costing $12, 150) to a customer on account with terms n/30. 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. 1,700 27,000 13,500 1,940 1 Record the cash sales of $289,900. Record the cost of goods sold of $158,710. 3 Record the return by a customer of unsatisfactory merchandise that was in perfect condition. A cash refund of $1,700 was given to the customer. Record the merchandise returned by the customer back into inventory. The original cost of the merchandise was $900. 5 Record the sales on account of $27,000 on terms n/30. 6 Record the cost of goods sold of $12,150. Record the collection of half of the balance of $13,500 owed by the customer within the discount period. 8 Record the allowance of $1,940 granted to the customer