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Please see attached document. Assignment is due Tuesday 10/18 mountain time Yolanda Hagen, a former disc golf star, operates Yolanda?s Discorama. At the beginning of

Please see attached document. Assignment is due Tuesday 10/18 mountain time

Yolanda Hagen, a former disc golf star, operates Yolanda?s Discorama. At the beginning of the current season on April 1, the ledger of Yolanda?s Discorama showed Cash $1,800, Inventory $2,400, and Owner?s Capital $4,200. The following transactions were completed during April.

Apr. 5Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,200, FOB shipping point, terms2/10, n/60.
7Paid freight on the Mumford purchase $60.
9Received credit from Mumford Co. for merchandise returned $100.
10Sold merchandise on account for $880, terms n/30. The merchandise sold had a cost of $528.
12Purchased disc golf shirts and other accessories on account from Saucer Sportswear $675, terms 1/10, n/30.
14Paid Mumford Co. in full, less discount.
17Received credit from Saucer Sportswear for merchandise returned $75.
20Made sales on account for $680, terms n/30. The cost of the merchandise sold was $400.
21Paid Saucer Sportswear in full, less discount.
27Granted an allowance to customers for clothing that was flawed $20.
30

Received payments on account from customers $840.

image text in transcribed Yolanda Hagen, a former disc golf star, operates Yolanda's Discorama. At the beginning of the current season on April 1, the ledger of Yolanda's Discorama showed Cash $1,800, Inventory $2,400, and Owner's Capital $4,200. The following transactions were completed during April. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,200, FOB shipping point, terms 2/10, n/60. Paid freight on the Mumford purchase $60. Received credit from Mumford Co. for merchandise returned $100. Sold merchandise on account for $880, terms n/30. The merchandise sold had a cost of $528. Purchased disc golf shirts and other accessories on account from Saucer Sportswear $675, terms 1/10, n/30. Paid Mumford Co. in full, less discount. Received credit from Saucer Sportswear for merchandise returned $75. Made sales on account for $680, terms n/30. The cost of the merchandise sold was $400. Paid Saucer Sportswear in full, less discount. Granted an allowance to customers for clothing that was flawed $20. Received payments on account from customers $840. Journalize the April transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale.) (To record cost of merchandise sold.) (To record credit sale.) (To record cost of merchandise sold.) Enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries presented in the previous part.) Cash Date Ex pl an ati on R e f . Debit No. 101 Credit Balance Bal an ce J 1 J 1 J 1 J 1 Accounts Receivable Date Ex pl an ati on R e f . J 1 J 1 J 1 J Debit No. 112 Credit Balance 1 Inventory Date Ex pl an ati on R e f . Bal an ce J 1 J 1 J 1 J 1 J 1 J 1 J 1 J 1 J 1 Debit No. 120 Credit Balance Accounts Payable Date Ex pl an ati on R e f . Debit No. 201 Credit Balance J 1 J 1 J 1 J 1 J 1 J 1 Owner's Capital Date Ex pl an ati on R e f . Debit No. 301 Credit Balance Bal an ce Sales Revenue Date Ex pl an ati on R e f . Debit No. 401 Credit Balance J 1 J 1 Sales Returns and Allowances Date Ex pl an ati on R e f . Debit No. 412 Credit Balance J 1 Cost of Goods Sold Date Ex pl an ati on R e f . Debit No. 505 Credit Balance J 1 J 1 Prepare a trial balance on April 30, 2017. YOLANDA'S DISCORAMA Trial Balance Debit Credit $ $ $ $

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