Adam Nichols, a former disc golf star, operates Adam?s Discorama. At the beginning of the current season on April 1, the ledger of Adam?s Discorama showed Cash $1,900.00, Inventory $2,500.00, and Owner?s Capital $4,400.00. The following transactions were completed during April.

Apr. 5	Purchased golf discs, bags, and other inventory on account from Rayford Co. $1,100.00, FOB shipping point, terms2/10, n/60.
7	Paid freight on the Rayford purchase $50.00.
9	Received credit from Rayford Co. for merchandise returned $200.00.
10	Sold merchandise on account for $860.00, terms n/30. The merchandise sold had a cost of $516.00.
12	Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $590.00, terms 1/10, n/30.
14	Paid Rayford Co. in full, less discount.
17	Received credit from Galaxy Sportswear for merchandise returned $80.00.
20	Made sales on account for $540.00, terms n/30. The cost of the merchandise sold was $370.00.
21	Paid Galaxy Sportswear in full, less discount.
27	Granted an allowance to customers for clothing that was flawed$10.00.
30	Received payments on account from customers $850.00.

Problem 5-4A Adam Nichols, a former disc golf star, operates Adam's Discorama. At the beginning of the current season on April 1, the ledger of Adam's Discorama showed Cash $1,900.00, Inventory $2,500.00, and Owner's Capital $4,400.00. The following transactions were completed during April. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf discs, bags, and other inventory on account from Rayford Co. $1,100.00, FOB shipping point, terms 2/10, n/60. Paid freight on the Rayford purchase $50.00. Received credit from Rayford Co. for merchandise returned $200.00. Sold merchandise on account for $860.00, terms n/30. The merchandise sold had a cost of $516.00. Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $590.00, terms 1/10, n/30. Paid Rayford Co. in full, less discount. Received credit from Galaxy Sportswear for merchandise returned $80.00. Made sales on account for $540.00, terms n/30. The cost of the merchandise sold was $370.00. Paid Galaxy Sportswear in full, less discount. Granted an allowance to customers for clothing that was flawed$10.00. Received payments on account from customers $850.00. Your answer is partially correct. Try again. Journalize the April transactions using a perpetual inventory system. (Record entries in the order displayed in the problem statement. Round answers to 2 decimal places, e.g. 125.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Apr. 5 Inventory Apr. 7 Freight-in Apr. 9 Sales Discoun Apr. 10 Inventory (To record credit sale.) (To record cost of merchandise sold.) Debit Credit Apr. 12 Purchases Apr. 14 Apr. 17 Purchase Disc Apr. 20 Sales Revenu (To record credit sale.) (To record cost of merchandise sold.) Apr. 21 Apr. 27 Sales Discoun Apr. 30 Cash SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries presented in the previous question. Round answers to 2 decimal places, e.g. 125.25.) Cash No. 101 Date Apr. 1 Explanatio Re n f Balance Apr. 7 Debit Credit 1900 1900 50 J1 Balance 1850 J1 J1 J1 Accounts Receivable Date No. 112 Explanatio Re n f Debit Credit Balance J1 J1 J1 J1 Inventory Date No. 120 Explanatio Re n f Balance J1 J1 J1 J1 J1 J1 J1 J1 Debit Credit Balance J1 Accounts Payable Date No. 201 Explanatio Re n f Debit Credit Balance J1 J1 J1 J1 J1 J1 Owner's Capital Date No. 301 Explanatio Re n f Balance Debit Credit Sales Revenue Date Balance No. 401 Explanatio Re n f Debit Credit Balance J1 J1 Sales Returns and Allowances Date No. 412 Explanatio Re n f Debit Credit Balance J1 Cost of Goods Sold Date No. 505 Explanatio Re n f J1 J1 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Debit Credit Balance LINK TO TEXT Your answer is incorrect. Try again. Prepare a trial balance on April 30, 2014. (Round answers to 2 decimal places, e.g. 125.25.) ADAM'S DISCORAMA Trial Balance April 30, 2014 Debit Credit $ $ $ $