eLLmhedacation.com/low/connecthtm My Toolbo Search 05 Mail-autumn walter@kryban.. Chapter 4 Quick Study: 10 pts X apter 4 Quick Study. 10 pts i Saved Help Save & Exit Submit Check my work Prepare jounal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method 1 Sold merchandise for $5,000, with credit terms n/30: invoice dated April 1. The cost of the merchandise is $3,000. 4 The customer in the April 1 sale returned $580 of nerchandise for full credit. The merchandise, which had cost $348, is returned to inventory. 8 Sold merchandise for $2,000, with credit tems of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,400. Apr. nts Apr. eBook Apr. Hint Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. Print References View transaction list Journal entry worksheet 5 6 4