Cheyenne Hagen, a former disc golf star, operates Cheyenne's Discorama. At the beginning of the current season on April 1, the ledger of Cheyenne's Discorama showed Cash $1,900, Inventory $2,600, and Owner's Capital $4,500. The following transactions were completed during April.

Apr. 5Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,100, FOB shipping point, terms2/10, n/60.7Paid freight on the Mumford purchase $50.9Received credit from Mumford Co. for merchandise returned $200.

10Sold merchandise on account for $800, terms n/30. The merchandise sold had a cost of $480.12Purchased disc golf shirts and other accessories on account from Saucer Sportswear $660, terms 1/10, n/30.14Paid Mumford Co. in full, less discount.17Received credit from Saucer Sportswear for merchandise returned $60.20Made sales on account for $690, terms n/30. The cost of the merchandise sold was $350.21Paid Saucer Sportswear in full, less discount.27Granted an allowance to customers for clothing that was flawed $20.30Received payments on account from customers $830.

The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold.