Instructions Question 1: Assume Granite Hills Pro Shop uses a perpetual inventory system. The following transactions were completed during April 2017. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,500. 7 Returned $200 merchandise to Arnie Co. 9 Paid Arnie Co. (credit terms: 3/10, n/60 ) 10 Made sales on account to member B $800. The cost of the merchandise sold was $400. 12 Received $200 return of merchandise from member B. The cost of the merchandise returned was $100. 15 Received payments from member B (credit terms: 1/10,n/30 )