Steve's Skateboards Uses the Perpetual Inventory System and Had the Following

Essay

Steve's Skateboards uses the perpetual inventory system and had the following sales transactions during April:
$\begin{array}{|l|l|}\hline \text { April 2 } & \begin{array}{l}\text { Sold merchandise to Happy Hobby Shop on credit for } \$ 4,800, \text { terms } 1 / 15, \\\mathrm{n} / 60 . \text { The items sold had a cost of } \$ 2,700 .\end{array} \\\hline \text { April 4 } & \begin{array}{l}\text { Happy Hobby Shop returned merchandise that had a selling price of } \$ 200 . \\\text { The cost of the merchandise returned was } \$ 110 .\end{array} \\\hline \text { April 13 } & \begin{array}{l}\text { Happy Hobby Shop paid for the merchandise sold on April 2, taking any } \\\text { appropriate discount earned. }\end{array} \\\hline\end{array}$
Prepare the journal entries that Steve's Skateboards must make to record these transactions.