P5.4 (LO 2, 3) J. Zheng, a former professional tennis star, operates Zheng's Tennis Shop at the Yalong River Resort. At the beginning of the current season, the ledger of Zheng's Tennis Shop showed Cash 2,200, Inventory 1,800, and Share Capital-Ordinary 4,000. The following transactions were completed during April. Apr. 4 6 8 10 11 13 14 15 17 18 20 21 27 30 Purchased racquets and balls from Jay-Mac Ltd. 760, FOB shipping point, terms 2/10, n/30. Paid freight on purchase from Jay-Mac 40. Sold merchandise to members 1,150, terms n/30. The merchandise sold had a cost of 790. Received credit of 60 from Jay-Mac for a racquet that was returned. Purchased tennis shoes from Li Sports for cash, 420. Paid Jay-Mac in full. Purchased tennis shirts and shorts from Everett Sportswear 800, FOB shipping point, terms 3/10, n/60. Received cash refund of 50 from Li Sports for damaged merchandise that was returned. Paid freight on Everett Sportswear purchase 30. Sold merchandise to members 980, terms n/30. The cost of the merchandise sold was 520. Received 600 in cash from members in settlement of their accounts. Paid Everett Sportswear in full. Granted an allowance of 40 to members for tennis clothing that did not fit properly. Received cash payments on account from members, 820. The chart of accounts for the tennis shop includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share Capital-Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. Instructions a. Journalize the April transactions using a perpetual inventory system. b. Enter the beginning balances in the ledger accounts and post the April transactions. (Use J1 for the journal reference.) c. Prepare a trial balance on April 30, 2025. c. Total debits 6,130 5-51

P5.4 (LO 2, 3) J. Zheng, a former professional tennis star, operates Zheng's Tennis Shop at the Yalong River Resort. At the beginning of the current season, the ledger of Zheng's Tennis Shop showed Cash Y2,200, Inventory 1,800, and Share Capital-Ordinary Y4,000. The following transactions were completed during April. Apr. 4 Purchased racquets and balls from Jay-Mac Ltd. 760, FOB shipping point, terms 2/10, n/30. 6 Paid freight on purchase from Jay-Mac 40. 8 Sold merchandise to members Y1,150, terms n/30. The merchandise sold had a cost of Y790. 10 Received credit of 60 from Jay-Mac for a racquet that was returned. 11 Purchased tennis shoes from Li Sports for cash, 420. 13 Paid Jay-Mac in full. 14 Purchased tennis shirts and shorts from Everett Sportswear 800, FOB shipping point, terms 3/10, n/6o. 15 Received cash refund of Y50 from L S Sports for damaged merchandise that was returned. 17 Paid freight on Everett Sportswear purchase 30. 18 Sold merchandise to members Y980, terms n/30. The cost of the merchandise sold was Y520 20 Received Y600 in cash from members in settlement of their accounts. 21 Paid Everett Sportswear in full. 27 Granted an allowance of Y40 to members for tennis clothing that did not fit properly. 30 Received cash payments on account from members, V820. The chart of accounts for the tennis shop includes the following: No, 101 Cash, No. 112 Accounts Receivable, No, 120 Inventory, No. 201 Aceounts Payable, No. 311 Share Capital-Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. Instructions a. Journalize the April transactions using a perpetual inventory system. b. Enter the beginning balances in the ledger accounts and post the April transactions. (Use J1 for the journal reference.) c. Prepare a trial balance on April 30, 2025. c. Total debits 6,130