! Required information PA6-3 (Algo) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5) [The following information applies to the questions displayed below) Hughes Hair Design is a wholesalet of halt supplies. Hughes Hair Design uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: Sold merchandise for cash cost of merchandise $32,397) 557,600 b. Received archandise returned by customers satisfactory (but in perfect condition for cash refund original cost of merchandise 5320) c. Sold merchandise (costing $7,600) to a customer on account with torns w/6 16.000 d. Collected half of the balance owed by the customer in (c) 11,000 c. Granted a partial allowance relating to credit sales the custoer in ) had not yet paid f. Anticipate further returns of marchandise (costine 5740) after year and from sales de during the year 560 PA6-3 (Algo) Part 3 3. Prepare journal entries to record transactions (0-10. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction fist pation View transaction list Journal entry worksheet Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $350 cash refund. Record the entry. Note: Enter debits before credits General Journal Debit Credit Transaction b(1) View general joumal Record entry Crear entry sheet