At the beginning of the current season on April 1, the ledger of Oriole Pro Shop showed Cash $ 2,760; Inventory $ 3.500; and Common Stock $ 6,260. The following transactions were completed during April 2022. Apr. 5 7 Purchased golf bags, clubs, and balls on account from Arnie Co. $ 2,600, terms 4/10,n/60. Paid freight on Arnie purchase $ 80. Received credit from Arnie Co.for merchandise returned $ 600. ON 10 12 14 17 Sold merchandise on account to members $ 1,210, terms n/30. The merchandise sold had a cost of $ 750. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $ 960, terms 2/10, n/30. Paid Arnie Co. in full. Received credit from Woods Sportswear for merchandise returned $ 60. Made sales on account to members $ 900, terms n/30. The cost of the merchandise sold was $ 550. Paid Woods Sportswear in full. Granted an allowance to members for clothing that did not fit properly $ 85. Received payments on account from members $ 1,170. 20 21 27 30 Joumalize the Agrill transactions using a perpetual Inventory system. no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Inventory 2400 Accounts Payable Inventory 30 Apr Accounts Payable Inventory A 10 V Accounts Reseabi 2210 Sales Revenu To record credt sale) Cost of Good Sold Inventory To record cost of goods sold) Inventory 980 Account Payable Apr. 14 Accounts Payable 2000 Purchase A 12 V Accounts Payable Inventory Accounts Resavalla Sala Raven To record credt sale) Coat of Great Sold Inventory To record cost of goods sold) INNI 100000! DO NOT Apr.21 Accounts Payable Sales Returns and Allowano Sales Returns and Allowance Account Real Apr. 20 2170 Account Revable Cash 41 al. 2760 4/8 al V 2170 Accounts Receivable Inventory Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances Cost of Goods Sold Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.) ORIOLE PRO SHOP Trial Balance April 30, 2022 Debit Credit Cash $ 1048 $ Inventory 5180 Accounts Receivable 855 Common Stock 6260 Sales Revenue 2110 Cost of Goods Sold 1300 Sales Returns and Allowances 13 $ 8383 $ 8383 Prepare an income statement through gross profit for the month of April 2022. ORIOLE PRO SHOP Income Statement (Partial) For the Month Ended April 30, 2022 Sales Sales Revenue $ 2110 Less Sales Returns and Allowances 13 Net Sales 2123 Cost of Goods Sold (1300) i Gross Profit $ 823
