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: $83,200 a. Sold merchandise for cash (cost of merchandise $44,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $600 ). C. Sold merchandise (costing $8,550 ) 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. 1,000 18,000 9,000 288 Dobit Credit No General Journal Transaction 1 a(1) 83,200 Cash 83,200 Sales Revenue a(2) Cost of Goods Sold 44,797 44,797 Inventory 3 3 b(1) 1,000 1.000 600 4 b(2) 600 18,000 5 c(1) 18,000 Sales Revenue Pop 8,550 6 (2) Cost of Goods Sold Inventory 8,550 7 9,000 Cash d 9,000 288 8 288