Saved Help Save $23,200 a. Sold merchandise for cash (cost of merchandise $14,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $150 ). c. Sold merchandise (costing $3,088 ) 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. 250 6,500 3,250 104 PA6-3 Part 4 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $11,500. This merchandise will cost Hair World $8,320. What would be the increase (or decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit Gross Profit Percentage earch