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Prepare journal entries to record each of the following sales transactions of a merchandising company....

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Accounting

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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 $4,600, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $2,760. Apr. The customer in the April i sale returned $540 of merchandise for full credit. The merchandise, which had cost $324, is returned to inventory. Apr. Sold merchandise for $1,800, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,260 Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. View transaction list Journal entry worksheet 2 3 4 5 Sold merchandise for $4,600, with credit terms n/30. Note: Enter debits before credits Date General Journal Debit Credit Apr 01 Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. View transaction list Journal entry worksheet The cost of the merchandise is $2,760. Note: Enter debits before credits Date General Journal Debit Credit Apr 01 Record entry Clear entry View general journal Journal entry worksheet

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