(Solved): QS 4-8 (Algo) Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record ...

QS 4-8 (Algo) Recording sales, returns, and discounts taken LO P2 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 $36,0e0$, with credit terms n/30; involce dated Apri1 2. The cost of the merchandise is 53 , 6ee. April 4 the custoner in the Apri1 1 sale returned $\$680$ of nerchandise for full credit. The merchandise, which had cost \$4es, is returned to inventory. April 8 sold merchandise for $\$2,500$, with credit terms of $1/10,n/30;$ invoice dated ApriI 8 . Cost of the merchandise is $\$1,750$. Apri1 11 Received paynent for the amount due from the April 1 sale less the return on Apri1 4. Journal entry worksheet $4567$ Sold merchandise for $\$6,000$, with credit terms $n/30$. Noter Enfer debits bciote credits Journal entry worksheet $45$ The cost of the merchandise is $\$3,600$. Note: Enter debits before credits. Journal entry worksheet $<1$ $67$ The customer in the A ril 1 sale returned $\$680$ of merchandise for full credit. Note: Enter debits before credits.