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. Apr. 1 Sold merchandise for $4,200, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $2,520. 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. Apr. Apr 11 Received payment for the amount due from the April 1 sale less the return on April 4. View transaction list Journal entry worksheet > 1 2 3 4 5 6 7 Sold merchandise for $4,200, with credit terms n/30 Note: Enter debits before credits. Date General Journal Debit Credit Apr 01