Help Save & Exit Submit Check my work Required information [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 $16,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $180) c. Sold merchandise (costing $3,325 to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in e. Granted a partial allowance relating to credit sales the custoner in (e) had not yet. paid. $27,200 300 7,000 3,500 112 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 8 6 7 2 4 5 Record the cash sales of $27,200. Next > 7 of 11 1 K 8 5 7 2 4 1 Record the cash sales of $27,200. Note: Enter debits before credits. Credit General Journal Debit Transaction a(1) View general journal Clear entry Record entry Next > 6 of 11 7 ( Prev 1..... et View transaction list Journal entry worksheet of 11 of 11 6 7 of 11 7 6 of 11 CO View transaction list Journal entry worksheet 4 1 2 3 5 7 Record the cost of goods sold of $3,325 Note: Enter debits before credits. Debit Credit General Journal Transaction c(2) View general journal Clear entry Record entry Next 11 Entry Require in the firsSt acc View transaction list Journal entry worksheet 7 6 4 3 2 1 Record the collection of half of the balance of $3,500 owed by the customer within the discount period. Note: Enter debits before credits. Credit Debit General Journal Transaction d View general journal Clear entry Record entry action/event, select "No Jou Entry Required" in the first account field.) of 4 View transaction list Journal entry worksheet pped of 11 7