Adam Nichols, a former disc golf star, operates Sheffield Corp.. At the beginning of the current season on April 1, the ledger of Sheffield Corp. showed Cash $1,900, Inventory $2,200, and Common Stock $4,100. The following transactions were completed during April. Purchased golf discs, bags, and other inventory on account from Rayford Co. $1,050, FOB shipping point, terms 2/10, n/60. Apr. 5 7 Paid freight on the Rayford purchase $50. 9 Received credit from Rayford Co. for merchandise returned $200. 10 Sold merchandise on account for $960, terms n/30. The merchandise sold had a cost of $576. 12 12 Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $570, terms 1/10, n/30. Paid Rayford Co. in full, less discount. 14 17 Received credit from Galaxy Sportswear for merchandise returned $70. 20 Made sales on account for $690, terms n/30. The cost of the merchandise sold was $300. 21 Paid Galaxy Sportswear in full, less discount. 27 Granted an allowance to customers for clothing that was flawed $30. 30 Received payments on account from customers $980. The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. Date Account Titles and Explanation Debit Apr. 5 Inventory 1050 Accounts Payable Apr. 7 Inventory 50 Cash Apr. 9 Accounts Payable 200 Inventory Apr. 10 Accounts Receivable 960 Sales Revenue (To record credit sale.) Apr. 10 Cost of Goods Sold Inventory (To record cost of merchandise sold.) Credit 1050 50 200 960 576 576 Apr. 12 Inventory 570 Accounts Payable Apr. 14 Accounts Payable Cash Inventory Apr: 17 Accounts Payable 70 Inventory 570 70 Apr. 20 Accounts Receivable 690 Apr. 20 Apr. 21 Sales Revenue (To record credit sale.) Cost of Goods Sold Inventory (To record cost of merchandise sold.) Accounts Payable 300 Cash Inventory Apr. 27 Sales Returns and Allowances 30 Accounts Receivable Apr. 30 Cash 980 Accounts Receivable 690 300 30 980 Enter the beginning balances in the ledger accounts and post the April transactions. (Round answers to 0 decimal places, e.g. 5,275. Cash Date Explanation Ref. Debit Apr. 1 Balance V Apr. 7: 31 Apr. 14 J1 Apr. 21 01 Apr. 30: Credit No. 101 Balance 31 Accounts Receivable No. 112 Date: Explanation Ref. Debit Credit Balance Apr. 10 J1 Apr. 20 J1 Apr. 27 31 Apr. 30 01 Date No. 120 Debit Credit Balance Explanation Ref. Inventory Apr. 1: Balance Apr. 5 J1 Apr. 7: 31 Apr. 9 31 Apr. 10 01 Apr. 12: 31 Apr. 14+ 01 Apr. 17: 31 Apr. 20 31 Apr. 21: 31 Accounts Payable Date Explanation Ref. Debit Credit Balance Apr. 5 == Apr. 9 J1 Apr. 12 + Apr. 14: Apr. 17: 01 n 31 31 Apr. 21 31 No. 201 Date Explanation Ref. Apr. 1 Balance) Common Stock Debit No. 311 Credit Balance Sales Revenue No. 401 Date Explanation Ref. Debit Credit Balance Apr. 10 31 Apr. 20: 31 Sales Returns and Allowances No. 412 Date Explanation Ref. Debit Credit Balance Apr. 27 J1 Cost of Goods Sold No. 505 Date Explanation Ref. Debit Credit Balance Apr. 10 31 Apr. 20 J1