Registred Information PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Pront Percentage [LO 6-4, LO 6- 3) The following information applies to the questions displayed below Hair World Inc. is a wholesaler of hair supplies. Hair World uses perpetual inventory system. The following transactions (summarized) have been selected for analysis: 175.200 ar 5018 merchandise for cash (cost of merchandise 510,797) b. Received merchandise returned by customers as insatisfactory (but in perfect condition) for cash refund (original cost of merchandise 3540 ) c. Sold merchandise (costing $7.000 ) to a customer on account with teres n/64 d. Collected half of the balance owed by the customer in (c) o. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. so 16,000 3,000 256 PA6-3 Part 3 3. Prepare journal entries to record transactions (le (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Prey 1 of 1 18 Next M hp e o $ Dul 86 Required information View transaction list Journal entry worksheet 1 2 3 5 6 7 8 > Record the cash sales of $75,200. Note: Enter debits before credits General Journal Transaction a(1) Debit Credit Becordant Cent VOD Prey 1 of 1 Next M hp