View Policies Current Attempt in Progress Grouper Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr 3 Purchased $2,700 of merchandise, terms 4/10, n/60. 6 Returned $650 of the merchandise purchased on April 3. 7 Paid freight charges of $220 on goods purchased on April 3. 12 Paid for the goods purchased on April 3. 13 Sold goods costing $670 on credit for $1,700. Estimated returns are 10%. 14 The customer of April 13 returned $370 of the goods that had a cost of $250. 23 Received payment from the customer of April 13. Prepare journal entries to record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Apr 3 Inventory Accounts Payable Apr 6 Accounts Payable Inventory Apr 7 Inventory Cash Debit 2,700 650 220 Apr 12 Accounts Payable 2,050 Cash Purchase Discounts Apr 13 Accounts Receivable Apr 14 Apr 23 Save for Later Service Revenue No Entry (To record credit sale) Cost of Goods Sold Inventory Estimated Inventory Returns (To record cost of merchandise sold and cost of estimated returns) (To record goods return by customer) (To record cost of goods returned) 1,700 Credit 2,700 650 220 1,968 82 1,700 0 ( 1 Attempts: 0 of 1 used Submit Answer