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.

April $7$ Purchased $$20,400$ of merchandise. Terms of the sale are $\frac{3}{10},\frac{n}{30}.$

April $10$ Returned defective units with a cost of $$3,100$ and received full credit.

April $16$ Paid the amount due, minus the return.

Journal entry worksheet

$1$

$2$

$3$

Paid the amount due, minus the return.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$April $16,$Accounts payable,$17,300,],[,$Merchandise inventory,,$],[,$Cash,,$],[,,,],[,,,],[,,,]$