CALCULATOR PRINTER VER Question 5 Vaughn Distributing Company plc completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of 9,130 and Share Capital-Ordinary of 9,130. Apr.2 Purchased merchandise on account from Walker Supply Co. 6,400, terms 2/10, 1/30. 4 Sold merchandise on account 5,600, FOB destination, terms 1/10,n/30. The cost of the merchandise sold was 63,580. 5 Paid 230 freight on April 4 sale. 6 Received credit from Walker Supply Co. for merchandise returned 600. 11 Pald 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 4,810. 16 Received refund from supplier for returned goods on cash purchase of April 14, 6530. 18 Purchased merchandise from Benjamin Distributors 5,400, FOB shipping point, terms 4/10, 1/30. 20 Paid freight on April 18 purchase 150. 23 Sold merchandise for cash 67,120. The merchandise sold had a cost of 5,310. 26 Purchased merchandise for cash 1,570. 27 Paid Benjamin Distributors in full, less discount. 29 Made refunds to cash customers for defective merchandise 82. The returned merchandise had a fair value of 634. 30 Sold merchandise on account C3,760, terms n/30. The cost of the merchandise sold was C2,370. Vaughn Distributing Company's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accour 311 Share Capital-Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No SOS Cost of Goods Sold, and Out Journalize the transactions using a perpetual inventory system. (Record entries in the order displayed in the proble 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.) ANTAL CARE Inn Enter the beginning cash and share capital-ordinary balances, and post the transactions. (Post entries in ti question.) Cash Date Explanation Ref Debit Credit Balance Balance V J1 11 J1 J1 J1 31 31 31 J1 31 No. 1 Accounts Receivable Date Explanation Ref Debit Credit Balance 31 Prepare the income statement through gross profit for the month of April 2017. VAUGHN DISTRIBUTING COMPANY PLC Income Statement (Partial)