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Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Aprit 1 sotd merchandise for $5,60e, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $3,360. Aprit 4 The customer in the April 1 sate returned $640 of merchandise for full credit. The merchandise, which had cost $384, is returned to inventory. April 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. April 11 Received payment for the amount due from the April 1 sale less the return on April 4. Journal entry worksheet