Chapter 5 Checkpoint #2 Baga Bunny had the following transactions related to the sale of merchandise inventory during April: 3 Sold merchandise costing $3,000 for $9 000 on account to Tweety Company, term: 2/10, w/30, FOR Destination. Bugs Bunny paid $250 of shipping charges to Worldwide Shipping Company. " Tweety Company returned $600 of merchandise (oost $300) for credit. 12 Sold merchandise costing $2,000 for $5,090 en secount to Duffy Company, terms 2/10, w/30, FOR Shipping Point. Daffy Company $200 of shipping charges to Worldwide Shipping Company. 13 Received the amount due from Tweety Company- 13 In order to match a competitor's lower price, Bugs Bunny agreed to reduce the sales price of the merchandise sold to Daffy Company on April 12 by $900. 12 Received the amount due from Daily Company Bugs Bunny maintaina an accounts receivable subsidiary ledger. REQUIRED: A. Give the general journal entries required to record the April transaction, siqueuing that Bugs Bunny uses the perpetual inventory method. B. What are ort sales for April? GENERAL JOURNAL Date Account Titles DR CRChapter 5 Checkpoint # Listed below is the adjusted trial balance of Peanuts Company at the end of the year, December 31. CH Cash 110 Accounts Receivable Supplies Prepaid Insurance Merchandise Inventory Equipment 500 Accum. Dept. Equip 120 Building Accum. Dept. -Bling. 100 Land 300 Accounts Payable Salaries Payable 12 Interest Payable 10 Long Term Notes Payable 900 Common Stock 430 Retained Earnings 230 Dividends Declared 130 Sales 2.400 Sales Returns & Allowances 350 Sales Discounts 180 Cost of Goods Sold Expense Selling Expenses 210 Administrative Expropri Rent Revecrat 40 25 4,670 4.670 REQUIRED: A. Compute the following amounts: 1. Income Statement Net Sales Cross Prof Grom Profit Rate Operating Income Net Income 2. Schedule of Cont of Goods Sold aname Beginning Inventory is $30; Purchases and $1,14], Purchase Returns and Allowances ere 5380, Purchase Daccounts are S145; and Freight in is $230. Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Ending Inventory Con of Goods Sold 3. Statement of Retained Earnings. Ending Retained Earrings Current Amet: Current Liabilities Plant Assets Long-Team Liabilities Total Auets Total ListaLar Total Stockholders' Equity Total Liabilities & Stockholder' Equity