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11. Steve's Skateboards had the following sales transactions with Hobby Shop during April. Steve's Skateboards and Hobby Shop both use perpetual inventory system. April 2

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11. Steve's Skateboards had the following sales transactions with Hobby Shop during April. Steve's Skateboards and Hobby Shop both use perpetual inventory system. April 2 Steve's Skateboards sold merchandise to Hobby Shop on credit for $4,800, terms 1/15, n/60. The cost of items sold was $2,700 April 13 Hobby Shop paid Steve's Skateboards for the merchandise purchased on April 2, taking any appropriate discount earned. The journal entries for Hobby Shop on April 2 are Select one: . Date Merchandise 2-Apr Inventory Debit Credit 4800 Cash 4800 Debit Credit ob Date Merchandise 2-Apr Inventory 4800 Accounts Payable 4800 Credit Date 2-Apr Cash Debit 4800 Merchandise Inventory 4800 Debit Credit Od Date Accounts 2.Apr Payable 4800 Merchandise Inventory 4B0D s a 27

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