At the beginning of the current golf season, on April 1, 2021, the general ledger of the In the Sheffield Golf Shop Limited showed Cash $4,720; Inventory $22,230; Common Shares $13,680; and Retained Earnings $13,270. The In the Sheffield Golf Shop uses a perpetual inventory system and experiences a return rate of 2% on sales. The following transactions occurred in April: Apr. 3 Purchased golf bags, clubs, and balls on account from Balata Corp. for $3,648, terms 1/10, n/30, FOB shipping point. 5 Freight of $331 was paid by the appropriate party on the April 3 purchase from Balata. 7 Sold merchandise on account to members for $11,200, terms n/30. The cost of the merchandise sold was $6,400. 9 Received a $358 credit from Balata for returned merchandise. 11 Paid Balata in full. 14 Received payments on account from members, $4,731. 16 16 17 20 2222 24 Purchased golf shoes, sweaters, and other accessories on account from Arrow Sportswear Limited for $1,510, terms 2/10, n/30. Received a $114 credit from Arrow Sportswear for returned merchandise. Sold merchandise on account to members for $12,300, terms n/30. The cost of the merchandise sold was $6,700. Paid Arrow Sportswear in full. 25 Received payments on account from members, $4.996.