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 8 Sold merchandise on account, Inv # 304, to SF Gyms, $24,462.50. The COGS is $15,656.00.

Apr 8 Received a check for $10,976.00 from Miami Beach Fitness Club in payment of our invoice of March 30 for $11,200.00 less discount.

Apr 9 Purchased from the following on account from Fitness Network: display (charge to Store Supplies), $2,100; merchandise, $9,600.00. Total $11,700.00. Terms are n/30.

Apr 9 Issued Credit Memorandum # 107 to SF Gyms for merchandise returned on Invoice # 304 of Apr 8, $937.50. COGS is $600.00