QS 4-10 (Algo) Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apri1 1 Sold werchandise for $7,200, with credit terms n/30; invoice dated Apri1 1. The cost of the merchandise in $4,320. April 4 The custoner in the Apri1 1 sale returned $800 of merchandise for full exedit. The merchandise, uhieh had cost \$480, is returned to inventory. April 8 sold merehandine for $3,100, with eredit terse of 1/10,n/30, invoice dated April 8 . Cost of the merehandise in $2,170. Apri1 in received paynent for the anount due from the Apri1 1 sale less the return on Apri1 4. Journal entry worksheet \begin{tabular}{l|lll} 4 & 5 & 6 & 7 \end{tabular} Sold merchandise for $7,200, with credit terms n/30. Note. Enter debits before credits. QS 4-10 (Algo) Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apri1 1 sold nerchandise for $7,200, with oredit teras n/30; involce dated April 1. The cost of the merohandise is April 4 the customer in the april 1 sale returned 3800 of serchandise tor tull credit. The merchandise, which had cont. $480, in roturned to inventory. Apri1 sold merchandise for $3,100, with eredit teras of 1/10,n/30, invoice dated April 8 . Coat of the merehandise in $2,170. Apri1 11 Recelved paysent. for the asount due trom the Apri1 1 ale lean the return on April 4. Journal entry worksheet QS 4-10 (Algo) Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apri1 1 sold merchandise for 67,200 , with eredit terms n/30; invoice dated Apri1 1. The cont of the nerehandise io $4,320. Apri1 4 The custoner in the April 1 sale returned $800 of merehandise for full eredit. The merehandise, which had cost \$480, ill returned to inventory. Apri1 $$1d nerchandine for $3,100, with eredit terma of 1/10,n/30, invoice dated April 9 . Cout of the gerehandise is Apri2 11 received paynent for the asount due trom the April 1 sale less the return on Apri1 4. Journal entry worksheet 567 The customer in the Aprill 1 sale returned $800 of merchandise for full credit. Note, Enter debits before credits. QS 4-10 (Algo) Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. April 1 sold merehandine for $7,200, with oredit terna n/30 / invoice dated Apri1 1. The coat of the merehandine is April 4 The cugtoner in the Apri1 1 sale returned 5300 of merchandise for tall credit. The merchandise, which had cost April i $480, in returned to inventory. Apri1 A Sold merehondine for 63,100 , vith eredit termn of 1/10,n/30; invoice dated Apri1 a. Coot of the merchandise is Apri1 11 Recelved paypent for the apount due tron the April 1 sale less the return on April 4. Journal entry worksheet
