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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
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 $5; se0, with credit terns a/30; iwvolce dated Apri1 1. The cost of the merchandise is $3,460. Apr. 4 The custoner in the Apri1 1 sale returned $660 of merchandise for ful1 credit. The perchandise, which had cost $396, is returned to inventory. Apr. \& Sold merchandise for 52,400 , with credit teras of 1/10,N/30; involce dated Apri1 8 . cost of the nerchandice is 51,680 . Apr. 11 Received paynent for the amount due from the Aprit 1 sale less the return on Apri1 4. Journal entry worksheet 234567 Sold merchandise for $5,800, with credit terms n/30. Notel Enter debits before oredits
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