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At the beginning of the current season on April 1 , the ledger of Cheyenne's Discorama showed Cash $ 2 , 0 0 0 ,
At the beginning of the current season on April the ledger of Cheyenne's Discorama showed Cash $ Inventory $ and Owner's Capital $ The following transactions were completed during April
Apr. Purchased golf discs, bags, and other inventory on account from Mumford Co $ FOB shipping point, terms n
Paid freight on the Mumford purchase $
Received credit from Mumford Co for merchandise returned $
Sold merchandise on account for $ terms The merchandise sold had a cost of $
Purchased disc golf shirts and other accessories on account from Saucer Sportswear $ terms n
Paid Mumford Co in full, less discount.
Received credit from Saucer Sportswear for merchandise returned $
Made sales on account for $ terms The cost of the merchandise sold was $
Paid Saucer Sportswear in full, less discount.
Granted an allowance to customers for clothing that did not fit $
Received payments on account from customers $
The chart of accounts for the store includes the following: No Cash, No Accounts Receivable, No Inventory, No Accounts Payable, No Owner's Capital, No Sales Revenue, No Sales Returns and Allowances, and No Cost of Goods Sold.
a
Journalize the April transactions using a perpetual inventory system. List all debit entries before credit entries. Credit account titles are automatically in amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select No Entry" for the accou enter for the amounts.
Date
Account Titles and Explanation
Debit
Credit
b
Enter the beginning balances in the ledger accounts and post the April transactions. Post entries in the order of journal entries presented in th
tableCash,NoDateExplanation Ref.,Debit,Credit,Balance
Balance
tableAccounts Receivable,NoDateExplanation Ref.,Debit,Credit,Balance
J
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