Required information PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5] [The following information applies to the questions displayed below.] Hair World Incorporated 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 $28,797 ). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $220 ). c. Sold merchandise (costing $4,750 ) 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 paid. f. Anticipate further returns of merchandise (costing \$140) after year-end from sales made during the year. $51,200 250 10,000 5,000 160 350 PA6-3 (Static) Part 3 3. Prepare journal entries to record transactions (a)-( f. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Note: Enter debits before credits