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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.

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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.) 1 Sold merchandise for $3,000, with credit terus n/30; invoice dated April 1. The cost of the merchandise is $1,800. Apr. 4 The customer in the April 1 sale returned $300 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; Invoice dated April 8. Cost of the merchandise is $700. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. Apr. Apr. View transaction list Journal entry worksheet Journal entry worksheet 2 3 5 6 7 > Sold merchandise for $3,000, with credit terms n/30; invoice dated April 1. Note: Enter debits before credits. Date General Journal Debit Credit Apr 01 Record entry Clear entry View general Journal Journal entry worksheet 5 6 7 The cost of the merchandise sold is $1,800. Note: Enter debits before credits Date General Journal Debit Credit Apr 01 Record entry Clementy View door jou mal C Prov MA Journal entry worksheet The customer in the April 1 sale returned $300 of merchandise for full credit. Note: Enter debits before credits. Date General Journal Debit Credit Apr 04 Record entry Clear entry View general journal Prov Journal entry worksheet The cost of the merchandise sold is $700. SID Note: Enter debits before credits. Date General Journal Debit Credit Apr 08 Record entry Che entry View general Journal View transaction list Journal entry worksheet 1 2 5 6 Received payment for the amount due from the April 1 sale less the return on April 4. Note: Enter debits before credits Date General Journal Debit Credit Apr 11 Racord entry Clementy View general jou

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