QS 4-8 (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. Apr. 1 Sold merchandise for $6,600, with credit terms a/30; invoice dated April 1. The cost of the merchandise is $3,960. Apr. The customer in the April 1 wale returned $740 of marchandise for full credit. The merchandise, which had cost $444, in returned to inventory. Apr. & Sold merchandise for $2,800, with credit terms of 1/10, 1/30; Invoice dated April 8. Cost of the merchandises $1,960. Apr. 11 Received payment for the amount due from the April 1 vale less the return on April 4. View transaction list Journal entry worksheet 2 4 5 6 7 Sold merchandise for $6,600, with credit terms 1/30 NoteEnter debitu batore credits General Journal Debit Credit Date Apr 01