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At the beginning of the current season on April 1, the ledger of Swiftys Discorama showed Cash $1,900, Inventory $2,300, and Owners Capital $4,200. The

At the beginning of the current season on April 1, the ledger of Swiftys Discorama showed Cash $1,900, Inventory $2,300, and Owners Capital $4,200. The following transactions were completed during April 2022.

Apr. 5 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,200, FOB shipping point, terms 2/10, n/60.
7 Paid freight on the Mumford purchase $60.
9 Received credit from Mumford Co. for merchandise returned $100.
10 Sold merchandise on account for $930, terms n/30. The merchandise sold had a cost of $558.
12 Purchased disc golf shirts and other accessories on account from Saucer Sportswear $630, terms 1/10, n/30.
14 Paid Mumford Co. in full, less discount.
17 Received credit from Saucer Sportswear for merchandise returned $30.
20 Made sales on account for $550, terms n/30. The cost of the merchandise sold was $400.
21 Paid Saucer Sportswear in full, less discount.
27 Granted an allowance to customers for clothing that did not fit $10.
30 Received payments on account from customers $830.

The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 301 Owners Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold.

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Journalize the April transactions using a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when 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 account titles and enter for the amounts.) te Account Titles and Explanation Debit Credit Inventory 1200 Accounts Payable 1200 Inventory Cash Accounts Payable 100 Inventory 100 Account Receivel 930 Sales Revenue 920 To record credit sale. Cost of Good Sold 558 Inventory 558 (To record cost of merchandise sold. Inventory 630 Accounts Payable 600 Account Payable 1100 Cash 1078 Inventory 22 1100 mA dObU70000 10 oC Accounts Payable Inventory Accounes Receivable 550 Selua Revenue 550 To record credit sale. Coat of Goods Sold 400 Inventory 400 (To record cost of merchandise sold. Accounts Payable 600 Cash Inventory Sales Returns and Allowers Account Recall Cash 830 Accounts Receivable 820 Enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries presented in the previous part.) Cash No Date Explanation Ref. Debit Credit Balance Balance J1 V J1 > J1 > J1 Accounts Receivable Na Date Explanation Ref. Debit Credit Balance J1 J1 Inventory No Date Explanation Ref. Debit Credit Balance Balance V Balance J1 J1 J1 J1 J1 > J1 31 J1 J1 > J1 > J1 > J1 No Owner's Capital Debit Date Explanation Ref. Credit Balance Balance Sales Revenue No Date Explanation Ref. Debit Credit Balance 31 J1 Na Sales Returns and Allowances Debit Date Explanation Ref. Credit Balance J1 No Cost of Goods Sold Debit Date Explanation Ref. Credit Balance 31 J1

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