Blossom Distributing Company plc completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of Blossom showed Cash of 9,860 and Share Capital-Ordinar of 9,860. Apr. 2 Purchased merchandise on account from Walker Supply Co. 6,800, terms 2/10, n/30. 4 Sold merchandise on account 5,800, FOB destination, terms 2/10, n/30. The cost of the merchandise sold was 3,310. 5 Paid 210 freight on April 4 sale. 6 Received credit from Walker Supply Co. for merchandise returned 700. 11 Paid Walker Supply Co. in full, less discount. 13 Received collections in full, less discounts, from customers billed on April 4. 14 Purchased merchandise for cash 4,010. 16 Received refund from supplier for returned goods on cash purchase of April 14, 560. 18 Purchased merchandise from Benjamin Distributors 4,700, FOB shipping point, terms 3/10, n/30. 20 Paid freight on April 18 purchase 110. 23 Sold merchandise for cash 6,600. The merchandise sold had a cost of 5,160. 26 Purchased merchandise for cash 1,840. 27 Paid Benjamin Distributors in full, less discount. 29 Made refunds to cash customers for defective merchandise 80. The returned merchandise had a fair value of 33. 30 Sold merchandise on account 4,240, terms n/30. The cost of the merchandise sold was 2,810. Blossom Distributing Company's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share Capital - Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No. 505 Cost of Goods Sold, and No. 644 Freight-Out. Journalize the transactions using a perpetual inventory system. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Ref. Debit Credit (To record the sale.) (To record cost of merchandise sold.) i i Apr. 13 v (To record refunds to customers.) (To record cost of merchandise returned.) (To record the sale.) (To record cost of merchandise sold.) Enter the beginning cash and share capital-ordinary balances, and post the transactions. (Post entries in the order of journal entries presented in the previous question.) No. 101 Cash Date Ref Debit Credit Balance Explanation Balance J1 11 V J1 31 31 J1 J1 J1 J1 J1 No. 112 Accounts Receivable Date Explanation Ref Debit Credit Balance J1 J1 11 No. 120 Inventory Date Explanation Ref Debit Credit Balance 11 J1 J1 J1 J1 11 11 11 J1 J1 J1 11 J1 No. 201 Accounts Payable Date Explanation Ref Debit Credit Balance J1 J1 J1 31 J1 No. 311 Ref Debit Credit Balance Share Capital-Ordinary Date Explanation Balance Sales Revenue Date Explanation No. 401 Ref Debit Credit Balance J1 V J1 J1 No. 412 Sales Returns and Allowances Date Explanation Ref Debit Credit Balance J1 No. 414 Sales Discounts Date Explanation Ref Debit Credit Balance J1 No. 505 Cost of Goods Sold Date Explanation Ref Debit Credit Balance J1 V J1 J1 J1 No. 64 Freight-Out Date Explanation Ref Debit Credit Balance Prepare the income statement through gross profit for the month of April 2017. BLOSSOM DISTRIBUTING COMPANY PLC Income Statement (Partial)