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. April 1 Sold merchandise for $7,200, with credit terng n/30; invoice dated April 1 . The cost of the merchandise is $4,320. April 4 The customer in the April 1 sale returned $800 of merchandise for full credit. The merchandise, which had cost $480, is returned to inventory. April 8 Sold merchandise for $3,100, with eredit terms of 1/10,n/30; involce dated April 8 . Cost of the merchandise is $2,170. April 11 Received payment for the amount due from the April 1 sale less the return on Apri1 4 . Journal entry worksheet Sold merchandise for $7,200, with credit terms n/30. Note: Enter debits before cresits