Required Information [The following information applies to the questions displayed below.) Hughes Hair Design is a wholesaler of hair supplies. Hughes Hair Design uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: $ 57,600 . Sold merchandise for cash (cost of merchandise $32,397). b. Received merchandise returned by custoners as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $320). c. Sold merchandise (costing $7,680) to a customer on account with terms n/6e. 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 $248) after year-end from sales made during the year. 350 16,000 8.800 188 360 3. Prepare joumal entries to record transactions (a111. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction Mat Journal entry worksheet Sold merchandise for $57,600 cash. Record the entry. Note: Enter debits before credits General Journal Debit Credit Transaction a(1) Record entry Clear entry View general Journal