following information applies to the questions displayed below.] Larry's Building Supplies (LBS) is a local hardware store. LBS uses a perpetual inventory system. The following transactions summarized) have been selected for analysis: $740,000 a. Sold merchandise for cash (cost of merchandise $353,350) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $5,100). c. Sold merchandise (costing $10,680) to a customer on account with terms 2/10, n30. d. Collected half of the balance owed by the customer in (c) within the discount period. e. Granted a partial allowance relating to credit sales that the customer in (c) had not yet paid. 7,800 7,800 8,722 2,550