At the beginning of the current season on April $1,$ the ledger of Crane Pro Shop showed Cash $$2,910,$ Inventory $$3,500,$ and Common Stock $$6,410.$ The following transactions were completed during April $2025.$

Apr.

$5$

Purchased golf bags, clubs, and balls on account from Arnie Co$.$ $$1,900,$ terms $\frac{3}{10},\frac{n}{60}.$

$7$ Paid freight on Arnie purchase $$80.$

$9$ Received credit from Arnie Co$.$ for merchandise returned $$500.$

$10$ Sold merchandise on account to members $$1,200,$ terms $\frac{n}{30}.$ The merchandise sold had a cost of $$820.$

$12$ Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $$1,070,$ terms $\frac{1}{10},\frac{n}{30}.$

$14$ Paid Arnie Co$.$ in full.

$17$ Received credit from Woods Sportswear for merchandise returned $$70.$

$20$ Made sales on account to members $$970,$ terms $\frac{n}{30}.$ The cost of the merchandise sold was $$550.$

$21$ Paid Woods Sportswear in full.

$27$ Granted an allowance to members for clothing that did not fit properly $$75.$

$30$ Received payments on account from members $$1,150.$

Your answer is partially correct.

Journalize the April transactions using a perpetual inventory system. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ 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. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Inventory

$1900$

Accounts Payable

Inventory

$80$

Cash

Accounts Payable

$500$

Accounts Receivable

$1200$

$($To record credit sale$)$

Prepare a trial balance on April $30,2025.($Do not list those accounts that have zero ending balance.$)$

Your answer is partially correct.

Prepare an income statement through gross profit for the month of April $2025.$

CRANE PROSHOP

Income Statement $($Partial$)$

For the Month Ended April $30,2025$

Sales Revenue

$

Sales Returns and Allowances

Net Sales

Cost of Goods Sold