Question
At the beginning of the current season on April 1, the ledger of Metlock, Inc showed Cash $2.300, Inventory $3,100, and Common Stock $5,400.
At the beginning of the current season on April 1, the ledger of Metlock, Inc showed Cash $2.300, Inventory $3,100, and Common Stock $5,400. These transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1.500, terms 3/10, n/60 7 Paid freight on Amie Co. purchases $8. 9 Received credit from Arnie Co. for merchandise returned $100 10 Sold merchandise on account to members $1.220, termis in/30. 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $820. terms 1/10/30 14 Paid Arnie Co. in full 17 Received credit from Woods Sportswear for merchandise returned $20. 20 Made sales on account to members $760, terms w/30 21 Paid Woods Sportswear in full 27 Granted credit to customers for clothing that did not fit properly $80 30 Received payments on account from members $1.230. The chart of accounts for the pro shop includes Cash Accounts Receivable, Inventory, Accounts Payable, Common Stock, Sales Revenue, Sales Returns and Allowances, Purchases Purchase Returns and Allowances Purchase Discounts, and Freight-in Journalize the April transactions using a periodic inventory system. (Credit account titles are automatically indented when amoun the problem.) Date Account Titles and Explanation Debit Credit
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