[The following information applies to the questions displayed below] Northside Hardware (NH) is a local hardware store. NH uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold nerchandise for canh (cost of merchandise 5280,350 ). b. Received merehandise returned by customeri al unsatiofactory (but in perfect condition) for agh $560,000 refund coriginal cont of merchandise $3,000 ). c. sold morchandise (conting $4,920 ) to a cuatomer on account with terme n/30. d. Collected half of the balance oved by the customer in (c). e. Granted a partial allowance relating to eredit malei the cuatomer in (c) had not yet paid. f. Anticipate further returns of merchandle too f. Anticipat the year. 3. Prepare journal entries to record transactions (a)-(7). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) 1 Sold merchandise for $660,000 cash. Record the entry. 2 The merchandise sold had a cost of $288,350. Record the entry. 3 Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $4,800 cash refund. Record the entry. 4. The merchandise retumed had a cost of $3,000. Record the entry. 5. Sold merchandise to a customer for $8,200 on account with terms n/30. Record the entry. Note : = journal entry has been entered 6. The merchandise sold had a cost of \$4,920. Record the entry. 7 Collected half of the $8,200 balance owed by the customer in transaction c. Record the entry. n Granted a partial $1,750 allowance relating to credit sales the customer in transaction c had not yet paid. Record the entry. 9. Anticipate further returns of merchandise after year-end from 54,600 sales made during the year. Record the entry. 10. The anticipated merchandise retums have a cost of 52,980. Record the entry. Note a a journal entry has been entered [The following information applies to the questions displayed below] Northside Hardware (NH) is a local hardware store. NH uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold nerchandise for canh (cost of merchandise 5280,350 ). b. Received merehandise returned by customeri al unsatiofactory (but in perfect condition) for agh $560,000 refund coriginal cont of merchandise $3,000 ). c. sold morchandise (conting $4,920 ) to a cuatomer on account with terme n/30. d. Collected half of the balance oved by the customer in (c). e. Granted a partial allowance relating to eredit malei the cuatomer in (c) had not yet paid. f. Anticipate further returns of merchandle too f. Anticipat the year. 3. Prepare journal entries to record transactions (a)-(7). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) 1 Sold merchandise for $660,000 cash. Record the entry. 2 The merchandise sold had a cost of $288,350. Record the entry. 3 Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $4,800 cash refund. Record the entry. 4. The merchandise retumed had a cost of $3,000. Record the entry. 5. Sold merchandise to a customer for $8,200 on account with terms n/30. Record the entry. Note : = journal entry has been entered 6. The merchandise sold had a cost of \$4,920. Record the entry. 7 Collected half of the $8,200 balance owed by the customer in transaction c. Record the entry. n Granted a partial $1,750 allowance relating to credit sales the customer in transaction c had not yet paid. Record the entry. 9. Anticipate further returns of merchandise after year-end from 54,600 sales made during the year. Record the entry. 10. The anticipated merchandise retums have a cost of 52,980. Record the entry. Note a a journal entry has been entered