Pace Distributing Company completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of Pace showed Cash of $9,320 and Owner's Capital of $9,320. Purchased merchandise on account from Monaghan Supply Co. $6,200, terms 2/ 10, n/ 30. old merchandise on account $5,500, FOB destination, terms 1/ 10, n/ 30. The cost of the merchandise sold was $3,850.Paid $280 freight on April 4 sale. Received credit from Monaghan Supply Co. for merchandise returned $700 Paid Monaghan Supply Co. in full, less discount. Received collections in full, less discounts, from customers billed on April 4. Purchased merchandise for cash $4,330.Received refund from supplier for returned goods on cash purchase of April 14, $510.Purchased merchandise from Dominic Distributors $4,900, FOB shipping point, terms 3/ 10, n/ 30.Paid freight on April 18 purchase $ 160.Sold merchandise for cash $6,650. The merchandise sold had a cost of $5,270.Purchased merchandise for cash $1,970.Paid Dominic Distributors in full, less discount.Made refunds to cash customers for defective merchandise $87.The returned merchandise had a fair value of $32.Sold merchandise on account $4,260, terms n/ 30. The cost of the merchandise sold was $3,330