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: $55,200 a. Sold nerchandise for cash (cost of merchandise $30, 797) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $390 c. sold nerchandise (costing $5,225 ) to a customer on account with terms n/60 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 650 11,000 5,500 paid. 176 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.)