Journal Entries for Merchandise Transactions on Sellers and Buyers RecordsPeriodic System The following are selected transactions for Franklin, Inc., during the month of April: April 20 Sold and shipped on account to Lind Stores merchandise for $13,400, with terms of 2/10, n/30. April 27 Lind Stores returned defective merchandise billed at $1,100 on April 20. April 29 Received from Lind Stores a check for full settlement of the April 20 transaction.