At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $ 3,370; Inventory $3,500, Stock $ 6,870. The following transactions were completed during April 2022. Apr. 5 7 9 10 12 14 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,400, terms 3/10, 1/60. Paid freight on Arnie purchase $ 80. Received credit from Amic Co. for merchandise returned $ 200. Sold merchandise on account to members $ 1450 terms 1/30. The merchandise sold had a cost of $ 800. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $ 960, terms 1/10,- Paid Arnie Co Intull Received credit from Woods Sportswear for merchandise returned $ 60, Made sales on account to members $850, terms 30. The cost of the merchandise solet 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 51.350. 17 20 21 27 30 Journalize the April transactions using a perpetual inventory item na entry is required, select "No Entry for the count titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually Record MacBook Air DRO 80 3 000 u 73 57 1 * 3 2 $ 4 % 5 6 & 7 6 8 9 0 W E R. T Y U 0 S D F G H T J L .com Question 3 of 3 -/5 DI Journalize the April transactions using a perpetual inventory system. (If 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 Journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit To record credit sale MacBook Air 1 : > 30 DOO 0801 16 *** 15 VA A * # 3 $ 4 % 5 che & 7 N 6 OD ON 8 9 0 W E R. P Y T U O Using T-accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order Journal entries posted in part a. For accounts that have a zero balance select *4/30 Bal from the list and enter for the amount) Cash Accounts Receivable Inventory MacBook Air 20 ** FS 13 TV @ A * 2 # 3 $ 4 % 5 & 7 . 6 00 8 9 O 0 W w m R T Y Y U 0 S D F G H J Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.) CRANE PRO SHOP Trial Balance April 30, 2022 Debit Credit Cash $ Accounts Receivable Inventory Common Stock 6870 Sales Revenue Sales Returns and Allowances Cost of Goods Sold MacBook Air 30 DOO . F2 7 OG F 4 11 75 17 * 2 # 3 $ 4 % 5 & 7 XN ON 6 8 9 0 W E R T Y U 0 0 2 Prepare an income statement through gross profit for the month of April 2022. CRANE PRO SHOP Income Statement (Partial) e Textbook and Media List of Accounts MacBook Air 20 COD DOO 17 19 F5
