Nature Gnome Company is a service based company that rents canoes for use on local lakes and rivers and has the following post-closing balances at December 31, 2018. (Click the icon to view the post-closing balances.) At the beginning of the new year, Nature Gnome Company decided to carry and sell T-shirts with its logo printed on them. Nature Gnome Company uses the perpetual inventory system to account for the inventory. During January 2019, Nature Gnome Company completed the following merchandising transactions: (Click the icon to view the transactions.) The following T-accounts in the ledger have been opened for you using the post-closing balances from Decen 31, 2018 (Click the icon to view the accounts.) Read the requirement. Jan. 10 Cost of Goods Sold 550 Merchandise Inventory 550 Jan. 12: Received payment for the T-shirts sold on account on January 10, less discount. (Round to the nearest whole dollar.) Date Accounts Debit Credit Jan. 12 Cash 544.5 5.5 550 Choose from any list or enter any number in the innut fields and then click Check Answer x CP5-49 on local lakes and rivers and has During January 2019, Nature Gnome Company co (Click the icon to view the transactions.) The following T-accounts in the ledger have been 31, 2018 (Click the icon to view the accounts.) sell T-shirts with its logo printed int for the inventory Read the requirement. 550 Nature Gnome C Accounts Payable the following pos Accounts Receivable Click the ici Canoe Rental Revenue At the beginning Cash on them. Nature Cost of Goods Sold Estimated Returns Inventory Interest Expense Jan. 10 Merchandise Inventory Notes Payable Office Supplies Refunds Payable Retained Earnings Jan. 12: Receive Sales Revenue Date Supplies Expense Jan. 12 Unearned Revenue 550 discount. (Round to the nearest whole dollar.) Debit Credit 544.5 5.5 550 Choose from any list or enter any number in the input fields and then click Check Answer. CP5-49 Continuing Problem (simiportal Question Help More Info Jeted the following merchandising transactions: Nature Gnome Company is a service based company that re the following post-closing balances at December 31, 2018. (Click the icon to view the post-closing balances.) At the beginning of the new year, Nature Gnome Company de on them. Nature Gnome Company uses the perpetual invento ned for you using the post-closing balances from De Jan. 1 Jan. 2 Jan. 3 Jan. 10 Cost of Goods Sold Jan. 7 Merchandise Inventory Jan. 8 Jan. 10 Jan. 12 Purchased 6 T-shirts at $3 each and paid cash. Sold 3 T-shirts for $16 each, total cost of $9. Received cash. Purchased 120 T-shirts on account at $5 each. Terms 5/10, n/30. Paid the supplier for the T-shirts purchased on January 3, less discount. Realized 3 T-shirts from the January 1 order were printed wrong and returned them for a cash refund. Sold 110 T-shirts on account for $16 each, total cost of $550. Terms 1/15, n/45. Received payment for the T-shirts sold on account on January 10, less discount. Purchased 180 T-shirts on account at $3 each. Terms 4/15, n/30. Nature Gnome Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $10 purchase allowance. Paid the supplier for the T-shirts purchased on January 14, less the allowance and discount. Sold 160 T-shirts on account for $16 each, total cost of $461. Terms 2/20, n/30. Received a payment on account for the T-shirts sold on January 21, less discount. Durobocod 200 Lobito on Oct otocol Toro 1/10 120 ron obissisc coist Jan. 12: Received payment for the T-shirts sold on account Jan. 14 Date Accounts Jan. 12 Cash Jan. 18 Jan. 20 Jan. 21 Jan. 23 Choose from any list or enter any number in the input fie Print Done Done 13 parts Check Answer remaining