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Sandhill Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from Martinez Ltd. for $27,440, terms n/30, FOB shipping point.. 6 The appropriate company paid freight costs of $686 on the merchandise purchased on April 3 . 7 Purchased supplies on account for $4,900. 8 Returned merchandise to Martinez and recelved a credit of $3,430. The merchandise was returned to inventory for future resale. 30 Paid the amount due to Martinez in full. 1. The cost of the merchandise sold on April 3 was \$18,620. Martinez expected a retum rate of 15%. 2. The cost of the merchandise returned on April B was $2,254. 3. Martinezuses a perpetual inventory system. Record the transactions in the books of Martinez, (List all debit entries before credit entries Credit account tities are outomaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Acrounts Recelvable Refund Liability (To record credit sale) (Torecord cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned) Cash Accounts Recelvable