elp Save &Exit Submit chapter 04: Accounting for Merchandising Operations Analyze and record transactions for merchandise sales using a perpetual system. Knowledge Check 06 A seller uses a periodic Inventory system, and on April 8, a customer returns $1,000 of merchandise that was purchased on credit on April 7. The cost of the merchandise returned was $480, and the merchandise is restored to inventory. Complete the seller's necessary journal entry by selecting the Account Names and dollar amounts from the drop-down menus. Date Account Tite Debit Credit April 8 select select select select select select Submit answer & continue