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 25 Received a credit memo from Iker Enterprises for merchandise returned, $400.

Apr 25 Sold merchandise on acct, Inv #308 to Anas Gym in the Grove, $9,262.50. COGS is $5,928.

Apr 26 Issued Check #2214 for $13,000 to Payroll for biweekly salaries: sales salaries, $8,000; Office salaries, $5,000.

Apr 26 Sold merchandise on account, Inv #309, to Extreme Fitness Club, $4,125. COGS is $2,640.