Prepare joumal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apri1 7 Purchssed $20,200 of merchandino. Tarmn of the 5n10 are 5/10,0/30. Apr11 10 roturned defective untes with a cont of 53,000 and rocetved full crodit. Apri1 16 paid the nrount due, mitun the return. Journal entry worksheet Purchased $20,200 of meuchandise. Terms of the sale are 5/10,n/30. Note: Enter debits before credits