! Required information [The following information applies to the questions displayed below) Myers Books & More, is a student co-op. Myers Books & More uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $160,470): b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $624). c. Sold merchandise (costing 59,540) to a customer on account with teres n/38. 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 $212) after month-end from sales made during the $ 291,500 1,690 21,200 1 , 1,220 month. 760 3. Prepare journal entries to record transactions (a) to (h. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. Prepare journal entries to record transactions (a) to 17. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction ist Journal entry worksheet Sold merchandise for $291,500 cash. Record the entry Note Enter debits before redits Transaction General Journal Dabit Credit Record entry Clear entry View general Journal