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 I Sold merchandise for $7,200, with credit teras n/30; invoice dated Apcil 1. The cost of the nerchandise iv $4,38. Apri1 4 The customer In the April 1 sale returned $300 of erechandiso for full credit, The merchandise, which fiad cost sqso, is April returned to inventory. April 11 Received pandise for 53,100 , with credit terms of 1/10, n/30; involce dated April 8 . Cost of the nerchandise is 32,170. April 11 Received payment for the amount due from the Aprs 1.1 sale les, the returi on April if: Journal entru wenrlehane