ezto.mhed Chapte Home I Columbus State Community College PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Pr 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: a. Sold merchandise for cash (cost of merchandise $30,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect $55,200 650 condition), for cash refund (original cost of merchandise $390). c. Sold merchandise (costing $5,225) to a customer, on account with terms 2/10, n/30. d. Collected half of the balance owed by the customer in (d within the discount period. e. Granted a partial allowance relating to credit sales that the customer in (d) had not yet 11,000 5,390 176 paid References Section Break PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5] 2.50 points PA6-3 Part 1 Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World Sales Revenue Net Sales Gross Profit