recording sales, returns and discounts taken LO P2

Connect ock Help Save 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 $5,280, with credit terms n/38; invoice dated April 1. The cost of the Apr 4 The customer in the April 1 sale returned $600 of merchandise for full credit. The merchandise, Apr. 8 Sold merchandise for $2,10e, with credit terms of 1/18, n/38; invoice dated April 8. Cost of the Aor. 11 Received paymont for the amount due from the April 1 sale less the return on April4 merchandise is $3,128. which had cost $360 merchandise is $1,478 is returned to inventory View transaction list Journal entry worksheet Cost of the merchandise is $1,470. C Prev6 of 17 Next o search