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. Sold merchandise for cash (cost of merchandise $28, 497) $50,900 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of merchandise $330) c. Sold merchandise (costing $4,600) to a customer, on account with terms 3/10, n/30 10,000 d. Collected half of the balance owed by the customer in (c) within the discount period 4,850 e. Granted an allowance to the customer in (c) 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 % Journal entry worksheet 2 3 4 5 6 7 8 Record the sale of merchandise. Note: Enter debits before credits. Transaction General Journal Debit Credit a-1. Journal entry worksheet 3 4 5 6 7 8 Record the cost of merchandise sold. Note: Enter debits before credits. General Journal Debit Credit Transaction a-2. Journal entry worksheet