J. Hafner, a former professional tennis star, operates Hafner's Tennis Shop at the Miller Lake Resort. At the beginning of the current season, the ledger of Hafner's Tennis Shop showed Cash $2,500, Merchandise Inventory $1,700, and Common Stock $4,200.The following transactions were completed during April. Apr. 4 Purchased racquets and balls from Wellman Co. $840, FOB shipping point, terms 2/10, n/30. 6 Paid freight on purchase from Wellman Co. $40. 8 Sold merchandise to members $1,150, terms n/30. The merchandise sold had a cost of $790. 10 Received credit of $40 from Wellman Co. for a damaged racquet that was returned. 11 Purchased tennis shoes from Venus Sports for cash, $420. 13 Paid Wellman Co. in full. 14 Purchased tennis shirts and shorts from Serena's Sportswear $900, FOB shipping point, terms 3/10, n/60. 15 Received cash refund of $50 from Venus Sports for damaged merchandise that was returned. 17 Paid freight on Serena's Sportswear purchase $30. 18 Sold merchandise to members $810, terms n/30.The cost of the merchandise sold was $530. 20 Received $500 in cash from members in settlement of their accounts. 21 Paid Serena's Sportswear in full. 27 Granted an allowance of $30 to members for tennis clothing that did not fit properly. 30 Received cash payments on account from members, $660. The chart of accounts for the tennis shop includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Merchandise Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales, No. 412 Sales Returns and Allowances, No. 505 Cost of Goods Sold. Journalize the April transactions using a perpetual inventory system. Date Description Debit Credit Apr. 4 Apr. 6 Apr. 8 (To record cost of merchandise sold.) Apr. 10 Apr. 11 Apr. 13 Apr. 14 Apr. 15 Apr. 17 Apr. 18 (To record cost of merchandise sold.) Apr. 20 Apr. 21 Apr. 27 Apr. 30 Enter the beginning balances in the ledger accounts and post the April transactions. Cash No. 101 Date Explanation Ref. Debit Credit Balance Apr. 1 Balance P 6 J1 11 J1 13 J1 15 J1 17 J1 20 J1 21 J1 30 J1 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Apr. 8 J1 18 J1 20 J1 27 J1 30 J1 Merchandise Inventory No. 120 Date Explanation Ref. Debit Credit Balance Apr. 1 Balance P 4 J1 6 J1 8 J1 10 J1 11 J1 13 J1 14 J1 15 J1 17 J1 18 J1 21 J1 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Apr. 4 J1 10 J1 13 J1 14 J1 21 J1 Common Stock No. 311 Date Explanation Ref. Debit Credit Balance Apr. 1 Balance P Sales No. 401 Date Explanation Ref. Debit Credit Balance Apr. 8 J1 18 J1 Sales Returns and Allowances No. 412 Date Explanation Ref. Debit Credit Balance Apr. 27 J1 Cost of Goods Sold No. 505 Date Explanation Ref. Debit Credit Balance Apr. 8 J1 18 J1 Prepare a trial balance on April 30, 2011. HAFNER'S TENNIS SHOP Trial Balance April 30, 2011 Trial Balance Account Titles Dr. Cr. Cash $ $ Accounts Receivable Merchandise Inventory Accounts Payable Common Stock Sales Sales Returns and Allowances Cost of Goods Sold $ $