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 $7,200, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $4,320. Apr. 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. Apr. 8 Sold merchandise for $3, 100, with credit terns of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $2,170. Apr. 11 Received paynent for the amount due from the April 1 sale less the return on April 4. View transaction list Journal entry worksheet 2 3 4 5 6 7 Sold merchandise for $7,200, with credit terms n/30. Note: Enter debits before credits Date General Journal Debit Credit Apr 01