At the beginning of the current tennis season, on April 1, 2024, Ayayai Tennis Shop's inventory consisted of 50 tennis racquets at a cost of $40 each. Ayayai uses a perpetual inventory system and the earnings approach. The following transactions occurred in April: Apr. 2 Purchased 160 additional racquets from Roberts Inc. for $6,400, terms n/30. 4 Determined that five of the racquets purchased on April 2 were damaged and returned them to Roberts Inc. Roberts Inc. credited Ayayai's account. 5 Sold 45 racquets to Tennis Dome for $95 each, terms n/30. 6 Tennis Dome returned 15 of the racquets after determining it had purchased more racquets than it needed. Ayayai gave Tennis Dome a credit on its account and returned the racquets to inventory. 10 Sold 40 racquets at $95 each to cash customers. 12 Ten of these racquets were returned for cash. The customers claimed they never play tennis and had no idea how they had been talked into purchasing the racquets. Refunded cash to these customers and returned the racquets to inventory. 17 An additional 10 of the racquets sold on April 10 were returned because the racquets were damaged. The customers were refunded cash and the racquets were sent to a local recycler. 25 Sold 60 racquets to the Summer Club for $95 each, terms n/30. 29 Summer Club returned 25 of the racquets after the tennis pro had examined them and determined that these racquets were of inferior quality. Ayayai gave Summer Club a credit and decided to return the racquets to inventory with plans to sell them for the reduced price of $75 each. 1.Record the transactions for the month of April for Ayayai. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

2. Create T accounts for Sales, Sales Returns and Allowances, Cost of Goods Sold, and Merchandise Inventory. Post the opening balance and April's transactions, and calculate the April 30 balances. (Post entries in the order of journal entries presented in the previous part.)