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. pr. 1 Sold merchandise for $6,800, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $4,080. Apr. 4 The customer in the April 1 sale returned $760 of merchandise for full credit. The merchandise, which had cost $456, is returned to inventory. Apr. 8 Sold merchandise for $2,900, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $2,030. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. View transaction list View journal entry worksheet No Date General Journal Credit Debit 6,800 Apr 01 Accounts receivable Sales 6,800 Apr 01 4,080 Cost of goods sold Merchandise inventory 4,080 Apr 04 Sales returns and allowances Accounts receivable Apr 04 Merchandise inventory Cost of goods sold Apr 08 3,200 Accounts receivable Sales Apr 08 2,030 Cost of goods sold Merchandise inventory 2,030