At the beginning of the current golf season on April 1, 2021. the general ledger of the In the Pronghorn Golf Shop Limited showed Cash $4,480; Inventory $ 21.060, Common Shares $ 12,960; and Retained Earnings $ 12,580. The In the Pronghorn Golf Shop uses a perpetual inventory system and experiences a return rate of 2% on sales. The following transactions occurred in April Apr. 3 S Purchased golf bags, clubs and balls on account from Balata Corp. for $3,456, terms 1/10, 1/30. FOB shipping point. Freight of $ 313 was paid by the appropriate party on the April 3 purchase from Balata, Sold merchandise on account to members for $10,600, terms/go. The cost of the merchandise sold was $ 6,100. Received a 5 340 credit from Balata for returned merchandise Paid Balata in full 7 9 11 14 16 Received payments on account from members, $4,482. Purchased golf shoes, sweaters, and other accessories on account from Arrow Sportswear Limited for $1,420, terms 2/10, 1/30 Received a $ 108 credit from Arrow Sportswear for returned merchandise. Sold merchandise on account to members for $11.700, terms /30. The cost of the merchandise sold was $ 6,400 Paid Arrow Sportswear in full. 17 20 24 25 Received payments on account from members. $ 4.732. Debit Credit Date Account Titles and Explanation Apr 3 V terventory 3456 Accounts Payable 313 Inventory Casti 313 Accounts Receivable 10600 10600 Sales (Sale of merchandise) Cost of Goods Sold 6100 Inventory 000 FT LAMAN 6100 (Cost of goods sold recorded) r. Accounts Payable 340 Inventory 340 nr11 Accounts Payable 3116 Inventory 31 Cash 3085 pr. 14 Accounts Receivable tor. 16 Inventory 1420 Cash 3085 Apr. 14 Cash Accounts Receivable 4482 Apr. 16 Inventory Accounts Payable 1420 r. 17 Accounts Payable Inventory 108 x 20 V Accounts Payable 11700 Sales 11700 (Sale of merchandise) TITUT DAN ANA ONOCI 207 Cost of Goods Sold 6400 DOO Inventory 6400 (Cost of goods sold recorded) pr. 24 Accounts Payable 1420 Inventory 28 Cash 1392 Apr 25 V Cash 4732 Accounts Receivable 4732