Saved Help Save & Exit Submit 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 $3,400, with credit terma n/30; invoice dated April 1. The cost of the merchandise is $2,040. Apr. 4 The customer in the April 1 sale returned $420 of merchandise for full credit. The merchandise, which had cost $252, is returned to inventory. Apr. B Sold merchandise for $1,200, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $840. 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