Prepare journal entries to record each of the following sales transactions of a merchandising company. Assume a perpetual inventory system Apr 1 Sold merchandise for $5,000 granting the customer terms of 5/10. EOM: invoice dated April 1 The cost of the merchandise is $3,000 Apr 4 The customer in the April 1 sale returned merchandise and received credit for $580 The merchandise, which had cost $348. is returned to inventory. Apr 11 Received payment for the amount due from the April 1 sale less the return on April 4 done