Saved Hair Care Inc. is a wholesaler of hair supplies. Hair Care uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis $51,80 Sold merchandise for cash (cost of merchandise $29,397) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of merchandise $420) Sold merchandise (costing $5,050) to a customer, on account with teres 2/10, 1/30 d. Collected half of the balance owed by the customer in (c) within the discount period e. Granted an allowance to the customer in () c 660 se, 4, see 19 Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World $ Sales revenue Net sales Gross profit $ 01.000 80.340 25.863 3 2. Compute the gross profit percentage. (Round your answer to the nearest whole percent.) Gross profit percentage 3. Prepare journal entries to record transactions (alle) (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transactions Journal entry worksheet 6 8 Record the allowance granted to the customer in (c). 3. Prepare journal entries to record transactions (a)-e). (If no entry is required for a transaction/event, select "No Journal required" In the first account field.) View transaction list Journal entry worksheet Record the cost of merchandise sold. Note: Enter debits before credits. Transaction General Journal Debit a-2 Credit Record entry Clear entry View general journal 3. Prepare journal entries to record transactions (a)-(e). (If no entry is required for a transaction/eve required" In the first account fleld.) View transaction list Journal entry worksheet Record the merchandise received from the customers as unsatisfactory (but in perfect condition), for cash refund. Note: Enter debits before credits. Transaction General Journal Debit Credit b-1 Record entry Clear entry View general journal 3. Prepare journal entries to record transactions (a)-(e). (If no entry is required for e transaction/event, required" In the first account field.) View transaction list Journal entry worksheet