Apr.		1		Sold merchandise for $5,600, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $3,360.
Apr.		4		The customer in the April 1 sale returned $640 of merchandise for full credit. The merchandise, which had cost $384, is returned to inventory.
Apr.		8		Sold merchandise for $2,300, with credit terms of 1/10, n/30 invoice dated April 8. Cost of the merchandise is $1,610.
Apr.		11		Received payment for the amount due from the April 1 sale less the return on April 4.

Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a 5 perpetual inventory system and the gross method Apr 1 Sold merchandise for $5,600, with credit terms n/30; invoice dated April 1. The cost of the merchandise is Apr. 4 The customer in the April 1 sale returned $640 of merchandise for full credit. The merchandise, which had cost Apr. 8 Sold merchandise for $2,300, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4 $3,360 $384, is returned to inventory $1,610 4 points 00:29:29 View transaction list Journal entry worksheet 4 5 6 7 Sold merchandise for $5,600, with credit terms n/30 Note: Enter debits before credits. Date General Journal Debit Credit Apr 01 Record entry Clear entry View general journal