Prepare journal entries to record each of the merchandising transactions assuming that the company records sales using the net method and a perpetual inventory system. 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $1,800 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. Apr pr. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4 Answer is complete but not entirely correct. Date Debit No General Journal Credit Accounts receivable Apr 01 1 3,000 Sales 3,000 Cost of goods sold Apr 01 2 1,800 Merchandise inventory 1,800 Sales returns and allowances Apr 04 3 300 Accounts receivable 300 Merchandise inventory Apr 04 4 180 Cost of goods sold 180 Accounts receivable 5 Apr 08 1,000 1,000 Sales Cost of goods sold 700 Merchandise inventory 700 Cost of goods sold 6 700 p 08 Merchandise inventory 700 7 Apr 11 Cash 2,700 2,700 Accounts receivable LO