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  3. please solve it problem \#3 (28 points): prepare

please solve it Problem \#3 (28 points): Prepare journal entries to record each...

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Accounting

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Problem \#3 (28 points): 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 $7,000, with credit terms n/30; invoice dated April 1. The cost the merchandise is $4,200. April 4: The customer in the April 1 sale returned $780 of merchandise for full credit. The nerchandise, which had cost $468, is returned to inventory. pril 8: Sold merchandise for $3,000, with credit terms of 1/10,n/30; invoice dated April st of the merchandise is $2,100. oril 11: Received payment for the amount due from the April 1 sale less the return on the below space for your calculations and T-accounts as necessary

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