Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Aprat 7 Purchosed $21,200 of nerchandise. Terns of the sale are 4/10,n/30. April 10 Returned defective units with a cost of $3,500 and received full credit. April 16. Paid the atount due, ninus the retura. Journal entry worksheet 23 Purchaved $21,200 of merchandise. Terms of the sale are 4/10,n/30. Joutnai antre morkshet. Jouenal entry workabiet