QS 511 Sale of merchandise: allowance-perpetual L03 Journalize each of the following transactions assuming a perpetual inventory system. Oct 15 Sold merchandise to Leslie Garth for $900 (cost of sales $600); terms 175,0/20, 16 Issued a $100 credit memo to Lestie Garth regarding an allowance on the October 15 salo. 25 Collected the amount owing regarding the October 15 sale to Leslie Garth, less the allowance granted on October 16. OS 512 Sole of merchandise: return-perpetual L03 Page 363 Prepare journal entries to record each of the following transactions of a merchandising company Show any supporting calculations. Assume a perpetual inventory system. Ape . I sold merchandise for $2.000 granting the customer terms of 2/10, EOM. The cost of the merchandise was $1,400 4 The customer in the April 1 sale returned merchandise and received credit for $500. The merchandise, which had cost $350. was returned to inventory Il Received payment for the amount due resulting from the April 1 sale, less the return and applicable discount, on April 4