(Solved): Prepare journal entries to record each of the following sales transactions of a merchandising compa ...

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. April 1 Sold merchandise for \( \$ 4,400 \), with credit terms \( \mathrm{n} / 30 \); invoice dated April 1. The cost of the merchandise is April 4 The customer in the April 1 sale returned \( \$ 520 \) of merchandise for full credit. The merchandise, which had cost April \& Sold merchandise for inventory. April 8 Sold merchandise for \( \$ 1,700 \), with credit terms of \( 1 / 10, \mathrm{n} / 30 \); invoice dated April 8 . Cost of the merchandise is \( \$ 1,190 \). April 11 Received payment for the amo?nt due from the April 1 sale less the return on April 4 , Journal entry worksheet The customer in the April 1 sale returned \( \$ 520 \) of merchandise for full credit. Note: Enter debits before credits. Journal entry worksheet The merchandise, which had cost \( \$ 312 \), is returned to inventory. Note: Enter debits before credits. Journal entry worksheet Sold merchandise for \( \$ 1,700 \), with credit terms of \( 1 / 10, n / 30 \). Note: Enter debits before credits. Journal entry worksheet 1 \( 23 \quad 3 \quad 4 \) Cost of the merchandise is \( \$ 1,190 \). Note: Enter debits before credits. Journal entry worksheet Received payment for the amount due from the April 1 sale less the return on April 4. Note: Enter debits before credits.