Ken's Furniture had the following transactions during April: Apr. 1 Sold merchandise on credit for $4,800, terms 1/10 n/30, cost $2.450. 4 Purchased merchandise with cash. $2.940. 8 Purchased merchandise on credit for $7,350, terms 2/10, 1/30. 9 Issued a credit memorandum for $780 to a customer who returned merchandise purchased March 30, cost $530. The merchandise was returned to inventory. 11 Received payment for merchandise sold April 1. 12 Received a credit memorandum for $650 for the return of faulty merchandise purchased on April 8. 20 Paid freight charges of $175 for merchandise ordered last month. 28 Paid for the merchandise purchased April 8 less merchandise returned. Prepare general journal entries to record these transactions, using a perpetual inventory system. Previous Next