QS 4-8 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 $6,400, with credit terns n/30; invoice dated April 1. The cost of the merchandise is Apr. 4 The custoner in the April 1 sale returned $722 of merchandise for full credit. The merchandise, which had cost Apr. 8 Soid merchandise for $2,700, with credit terms of 1/10, 1/30; invoice dated April 8. Cost of the merchandise is Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. $3,840. $432, is returned to inventory. $1,690. View transaction list Journal entry worksheet 1 2 3 5 6 7 > Sold merchandise for $6,400, with credit terms 1/30. Note: Enter debits before credits Date General Journal Debit Credit Apr 01 Prey 19 of 21 111 Next >