Prepare the journal entries for the transactions below:

Credit terms for all sales on account are 2/10, n/30. Huff Fitness uses a perpetual inventory system and therefore records the cost of merchandise sold as well as the sale.

Apr 2 Received a check for $14,406.00 from Extreme Fitness Club in payment of our invoice of March 27 for $14,700 less discount.

Apr 2 Issued Check # 2202 for $6,720.00 to Harvey Insurance Company as a prepayment of insurance for a 12-month policy.

Apr 3 Issued check #2203 for $46,480.00 to Fitness Network in payment of its invoice of March 27 (no discount).

Apr 3 Sold merchandise on account, Invoice 302, to Day & Night Fitness Centers for $12,162.50. COGS is $7,784.00.