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Hair Care Inc. is a wholesaler of hair supplies. Hair Care uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. b. Sold merchandise for cash (cost of merchandise $29, 797) $ 52,200 Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of merchandise $460) 700 Sold merchandise (costing $5,250) to a customer, on account with terms 3/10, n/30 10,000 Collected half of the balance owed by the customer in (c) within the discount period 4,850 Granted an allowance to the customer in (c) 210 C. d. Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World. Sales revenue Net sales Gross profit 2. Compute the gross profit percentage. (Round your answer to the nearest whole percent.) Gross profit percentage % 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 Journal entry worksheet Record the sale of merchandise. Note: Enter debits before credits. Transaction General Journal Debit Credit a-1. Record entry Clear entry View general journal Journal entry worksheet Record the merchandise received from the customers as unsatisfactory (but in perfect condition), for cash refund. Note: Enter debits before credits. Transaction General Journal Debit Credit b-1. Record entry Clear entry View general journal Journal entry worksheet