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At the beginning of the current season on April 1, the records of Marigold Pro Shop showed Cash $2,980, Inventory $3,500, and Common Stock $6,480.
At the beginning of the current season on April 1, the records of Marigold Pro Shop showed Cash $2,980, Inventory $3,500, and Common Stock \$6,480. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Sandhill Co. $2,200. 9 Received credit from Sandhill Co. for merchandise returned $600. 10 Sold merchandise on account to members $1,360. The merchandise sold had a cost of $920. 12 Purchased golf shoes, sweaters, and other accessories on account from Wildhorse Sportswear $1,050. 14 Paid Sandhill Co. in full. 17 Received credit from Wildhorse Sportswear for merchandise returned $50. 20 Made sales on account to members $820. The cost of merchandise sold was $550. 21 Paid Wildhorse Sportswear in full. 30 Received payments on account from members $1,170. Prepare an income statement through gross profit for the month of April 2022
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