At the beginning of the current tennis season, on April 1, 2021, Whispering Winds Tennis Shop's inventory consisted of 50 tennis racquets at a cost of $58 each. Whispering Winds 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 $9,280, 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 Whispering Windss account.
5		Sold 45 racquets to Tennis Dome for $130 each, terms n/30.
6		Tennis Dome returned 15 of the racquets after determining it had purchased more racquets than it needed. Whispering Winds gave Tennis Dome a credit on its account and returned the racquets to inventory.
10		Sold 40 racquets at $130 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 $130 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. Whispering Winds 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. Record the transactions for the month of April for Whispering Winds. Post the opening balance and Aprils transactions, and calculate the April 30 balances.

Date Account Titles and Explanation Debit Credit (Purchase on account.) (To record purchase return.) (To record sales on account.) (To record cost of goods sold.) (To record credit for goods returned.) (To record cost of goods returned.) (To record cash sales.) (To record cost of goods sold.) (To record cash refund for goods returned.) (To record cost of goods returned.) (To record cash refund for goods returned damaged.) (To record sales on account.) (To record cost of goods sold.) (To record credit for goods returned.) (To record cost of goods returned.) Merchandise Inventory Sales Returns and Allowances > >