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Please help me figure out how to fill out this chart, thank you! At the beginning of the current season on April 1, the records
Please help me figure out how to fill out this chart, thank you!
At the beginning of the current season on April 1, the records of Whispering Winds Pro Shop showed Cash $3,070, Inventory $3,500, and Common Stock \$6,570. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Carla Vista Co. $1,800 9 Received credit from Carla Vista Co. for merchandise returned $400. 10 Sold merchandise on account to members $1,230. The merchandise sold had a cost of $750. 12 Purchased golf shoes, sweaters, and other accessories on account from Sandhill Sportswear \$1,070. 14 Paid Carla Vista Co. in full. 17 Received credit from Sandhill Sportswear for merchandise returned $70. 20 Made sales on account to members $890. The cost of merchandise sold was $550. 21 Paid Sandhill Sportswear in full. 30 Received payments on account from members $1,270. (a) \& (b) Enter the beginning balances in the summary and record the April transactions using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current Attempt in Progress At the beginning of the current season on April 1, the records of Whispering Winds Pro Shop showed Cash $3,070, Inventory $3,500, and Common Stock $6,570. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Carla Vista Co. $1,800 9 Received credit from Carla Vista Co. for merchandise returned $400. 10 Sold merchandise on account to members $1,230. The merchandise sold had a cost of $750. 12 Purchased golf shoes, sweaters, and other accessories on account from Sandhill Sportswear \$1,070. 14 Paid Carla Vista Co. in full. 17 Received credit from Sandhill Sportswear for merchandise returned $70. 20 Made sales on account to members $890. The cost of merchandise sold was $550. 21 Paid Sandhill Sportswear in full. 30 Received payments on account from members $1,270. (a) \& (b) Enter the beginning balances in the summary and record the April transactions using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)Step by Step Solution
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