At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $2,840; Inventory $3,500; and Common Stock $6,340. The following transactions were completed during April 2017.

Apr. 5		Purchased golf bags, clubs, and balls on account from Arnie Co. $1,500, terms 4/10, n/60.
7		Paid freight on Arnie purchase $80.
9		Received credit from Arnie Co. for merchandise returned $600.
10		Sold merchandise on account to members $1,470, terms n/30. The merchandise sold had a cost of $740.
12		Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $1,050, terms 2/10, n/30.
14		Paid Arnie Co. in full.
17		Received credit from Woods Sportswear for merchandise returned $50.
20		Made sales on account to members $900, terms n/30. The cost of the merchandise sold was $550.
21		Paid Woods Sportswear in full.
27		Granted an allowance to members for clothing that did not fit properly $70.
30		Received payments on account from members $1,180.

Using T-accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries posted in part a. For accounts that have a zero balance select "4/30 Bal." from the list and enter 0 for the amount.)

Prepare a trial balance on April 30, 2017. (Do not list those accounts that have zero ending balance.)

Prepare an income statement through gross profit for the month of April 2017.

Journalize the April transactions using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Recordjournal entries in the order presented in the problem. Round answers to O decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit Date Apr. 5 1500 Inventory Accounts Payable 1500 Apr. 7 Inventory 80 Cash 80 Apr. 9 Accounts Payable 600 Inventory 600 Apr. 10 Accounts Receivable 1470 Sales Revenue 1470 (To record credit sale) 740 Cost of Goods Sold 740 Inventory (To record cost of goods sold) Apr. 12 1050 Inventory Accounts Payable 1050 Accounts Payable 1050 Apr. 14 Accounts Payable 900 Cash 864 Inventory 36 Apr. 17 50 Accounts Payable Inventory 50 900 Apr. 20 Accounts Receivable Sales Revenue 900 (To record cred it sale) Cost of Goods Sold 550 550 Inventory (To record cost of goods sold) Apr. 21 Accounts Payable 1000 Cash 980 20 Inventory Apr. 27 Sales Returns and Allowances 70 Accounts Receivable 70 Apr. 30 Cash 1180 Apr. 20 900 Accounts Receivable Sales Revenue 900 (To record credit sale) 550 Cost of Goods Sold Inventory 550 (To record cost of goods sold) Apr. 21 Accounts Payable 1000 Cash 980 Inventory 20 Apr. 27 Sales Returns and Allowances 70 Accounts Receivable 70 Apr. 30 Cash 1180 Accounts Receivable 1180 X Your answer is incorrect Using T-accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries posted part a. For accounts that have a zero balance select "4/30 Bal." from the list and enter O for the amount.) Cash Accounts Receivable Inventory X Your answer incorrect. Prepare a trial balance on April 30, 2017. (Do not list those accounts that have zero ending balance.) GRANITE HILLS PRO SHOP Trial Balance Credit Debit $ $ $