Required information The following information applies to the questions displayed below) Ortiz Books, is a student co-op. Ortiz Books uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $153,470). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $604). c. Sold merchandise (costing $9,090) to a customer on account with terms /38. d. Collected half of the balance oved 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 $282) after month-end fros sales made during the month. $277,750 1,610 20,200 10,100 1,120 718 3. Prepare journal entries to record transactions (a) to (6. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Sold merchandise for $277,750 cash. Record the entry Check my work