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 $4,000, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $2,400. Apr. 4 The customer in the April 1 sale returned $480 of merchandise for full credit. The merchandise, which had cost $288, is returned to inventory. Apr. 8 Sold merchandise for $1,500, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $1,050. Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4.

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.