Sold merchandise for $6,200, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $3,720. April 4 The customer in the April 1 sale returned $700 of merchandise for full credit. The merchandise, which had cost $420, is returned to inventory. April 8 Sold merchandise for $2,600, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,820. April 11 Received payment for the amount due from the April 1 sale less the return on April 4.
