Prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Apr. 1 Sold merchandise for $4,200, with credit terms n/30%; invoice dated April 1. The cost of the merchandise is $2,520. Apr. Apr. 4 The customer in the April 1 sale returned $500 of merchandise for full credit. The merchandise, which had cost $300, is returned to inventory. 8 Sold merchandise for $1,600, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,120. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4.