please answer all

! Required information PA6-3 Recording Sales with Discounts and Returns and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5) (The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $71,200 a. Sold merchandise for cash (cost of merchandise $38,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $510 ). c. Sold merchandise (costing $7,125 ) 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. 850 15,000 7,500 240 PA6-3 Part 3 3. Prepare journal entries to record transactions (a)-(e). (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 X 1 Record the cash sales of $71,200. k 2 Record the cost of goods sold of $38,797. 3 Record the return by a customer of unsatisfactory merchandise that was in perfect condition. A cash refund of $850 was given to the customer. C 4 Record the merchandise returned by the customer back into inventory. The original cost of the merchandise was $510. 5 Record the sales on account of $15,000 on terms n/60. 6 Record the cost of goods sold of $7,125. Note : = journal entry has been entered Record entry Clear entry View gene of $850 was given to the customer. 4 Record the merchandise returned by the customer back into inventory. The original cost of the merchandise was $510. 5 Record the sales on account of $15,000 on terms n/60. 6 Record the cost of goods sold of $7,125. 7 Record the collection of half of the balance of $7,500 owed by the customer within the discount period. 8 Record the allowance of $240 granted to the customer. Note : journal entry has been entered Record entry Clear entry View Seved Homework Torcu Have any $71,200 a. Sold merchandise for cash (cost of merchandise $38, 797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $510 ). c. Sold merchandise (costing $7,125 ) 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. 850 15,000 7,500 240 PA6-3 Part 4 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $20,000. This merchandise will cost Hair World $12,400. What would be the increase for decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit Gross Profit Percentage by to %