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 terms $\frac{n}{30}$; 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 credit terms of $\frac{1}{10},\frac{n}{30}$; invoice 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 April $4.$

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