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At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $3,010; Inventory $4,010; and Common Stock
At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $3,010; Inventory $4,010; and Common Stock $7,020. The following transactions occurred during April 2017 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,530, terms 4/10, n/60 7 Paid freight on Arnie Co.purchases $82. 9 Received credit from Arnie Co.for merchandise returned $230. 10 Sold merchandise on account to members $1,367, terms n/30. 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $847, terms 2/10, n/30. 14 Pald Arnie Co. in full 17 Received credit from Woods Sportswear for merchandise returned $47 20 Made sales on account to members $826, terms n/30. 21 Paid Woods Sportswear in full. 27 Granted credit to members for clothing that did not fit properly $82 30 Recelved payments on account from members $1,244. Apr.5 Using Taccounts, enter the beginning balances in the ledger accounts and post the April transactions. Cash 4/1 Bal. # 4/30 4/14 4/21 4/30 Bal. Accounts Receivable 4/10 4/27 4/20 4/30 4/30 Bal. Accounts Payable 4/9 4/5 4/14 4/12 4/21 4/30 Bal. Common Stock 4/27 4/30 Bal: Sales Revenue 4/27 4/10 4/20 4/30 Bal. Sales Returns and Allowances Purchases 4/10+ 4/20 \ 4/30 Bal. Purchase Returns and Allowances Purchase Discounts Freight-In
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