P5.4A (LO 2, 3, 4) Adam Nichols, a former disc golf star, operates Adam's Discorama. At the beginning of the current season on April 1, the ledger of Adam's Discorama showed Cash $1,800, Inventory $2,500, and Common Stock $4,300. The following transactions were completed during April. Purchased golf discs, bags, and other inventory on account from Rayford Co. $1,200, FOB shipping point, terms 2/10, n/60. Paid freight on the Rayford purchase $50. Received credit from Rayford Co. for merchandise returned $100 Sold merchandise on account for $900, terms n/30. The merchandise sold had a cost of $540. 5 Apr. 7 10 Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $670, 12 terms 1/10, n/30