PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5 IThe Halr World Inc. is a wholesaler of hair supplies. Halr World uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysIs: $39,200 a. Sold merchandise for cash (cost of merchandise $22,797). b. Recelved merchandise returned by customers as unsatisfactory (but In perfect condition), for cash refund (original cost of merchandise $270). c. Sold merchandise (costing $4,038) to a customer, on account with terms 2/10, n/30. d. Collected half of the balance owed by the customer In (c) within the discount perlod. e. Granted a partial allowance relating to credit sales that the customer in ( had not yet 8,500 4,165 136 paid