Current Attempt in Progress Your answer is partially correct. ost 3 ie Wildhorse Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April Purchased merchandise from Swifty Ltd. for $34,160, terms n/30, FOB shipping point. The appropriate company paid freight costs of $854 on the merchandise purchased on April 3. Purchased supplies on account for $6,100. Returned merchandise to Swifty and received a credit of $4,270. The merchandise was returned to inventory for future resale. Paid the amount due to Swifty in full. 6 7 8 30 ig 1. 2. 3. The cost of the merchandise sold on April 3 was $23,180. Swifty expected a return rate of 15%. The cost of the merchandise returned on April 8 was $2,806. Swifty uses a perpetual inventory system. IF Record the transactions in the books of Swifty. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 34 Accounts Receivable 34,160 Date Debit Credit Account Titles and Explanation Accounts Receivable Apr 3 34. 160 (To record credit sale) Apr. 3 (To record cost of merchandise sold) Apr. 6 Apr.74 No Entry No Entry Apr. 8 . (To record return of goods) Apr. 8 2806 DS (To record cost of merchandise sold) Apr. 6 le Apr. 7 No Entry No Entry Apr. 8 (To record return of goods) Apr. 8 2806 2806 (To record cost of merchandise returned) Apr 30 4 Cash 29890 Accounts Receivable 29890