At the beginning of the current golf season, on April 1, 2015 the general ledger of In the Pines Golf Shop showed Cash $6,000; Merchandise Inventory $2,500; Common Shares $5,100; and Retained Earnings $3,400. In the Pines Golf Shop uses a perpetual inventory system.

The following transactions occurred in April:

Apr. 3 Purchased golf bags, clubs, and balls on account from Balata Corp. for $4,600, terms 1/10, n/30,

FOB shipping point.

6 Freight of $120 was paid by the appropriate party on the April 3 purchase from Balata.

9 Received a $200 purchase allowance from Balata for returned merchandise.

10 Sold merchandise on account to members for $5,020, terms n/30. The cost of the merchandise sold was $2,010.

12 Paid Balata in full.

14 Received payments on account from members, $2,125.

16 Purchased golf shoes, sweaters, and other accessories on account from Arrow Sportswear Limited for $1,300, terms 2/10, n/30.

17 Received a $100 credit from Arrow Sportswear for returned merchandise.

20 Sold merchandise on account to members for $3,200, terms n/30. The cost of the merchandise sold was $1,285.

24 Paid Arrow Sportswear in full.

27 Granted an $85 sales allowance to a member for soiled clothing. No merchandise was returned.

Instructions

(a) Prepare T accounts and enter the opening balances.

(b) Record and post the April transactions for In the Pines Golf Shop. Round all calculations to the nearest dollar.

(c) Prepare a trial balance as at April 30.