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. Apr. 1 Sold merchandise for $4,000, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $2,400. Apr. 4 The customer in the April 1 sale returned $480 of merchandise for full credit. The merchandise, which had cost $288, is returned to inventory. Apr. & Sold merchandise for $1,5ee, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,ese. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Apr 01 Accounts receivable Sales 4,000 4,000 2 Apr 01 Cost of goods sold Merchandise inventory 2.400 2.400 3 Apr 04 480 Sales returns and allowances Accounts receivable 480 4 Apr 04 288 Merchandise inventory Cost of goods sold 288 5 Apr 08 1,500 Accounts receivable Sales returns and allowances 1,500 Save & View transaction list View journal entry worksheet No Date General Journal Credit 1 Apr 01 Accounts receivable Sales Debit 4,000 4,000 2 Apr 01 Cost of goods sold Merchandise inventory 2,400 2.400 3 Apr 04 Sales returns and allowances Accounts receivable 480 480 4 Apr 04 Merchandise inventory Cost of goods sold 288 288 5 Apr 08 1,500 Accounts receivable Sales returns and allowances 1,500 6 Apr 08 1,050 Cost of goods sold Merchandise inventory 1,050 7 Apr 11 3,520 Cash Accounts receivable 3,520