prepare an income statement through gross profit for the month of april 2022

CALCULATOR PRINTER VERSION PRINTER VERSION BACK NEXTI Problem 5-03A At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $3,280; Inventory $3,500; and Common Stock 56,780. The following transactions were completed during April 2022. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,000, terms 3/10, 1/60. Paid freight on Arnie purchase $80. Received credit from Arnie Co. for merchandise returned $200. Sold merchandise on account to members $1,220, terms n/30. The merchandise sold had a cost of $770. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $760, terms 1/10, 1/30. Paid Arnie Co. in full. Received credit from Woods Sportswear for merchandise returned $60. Made sales on account to members $810, terms 1/30. The cost of the merchandise sold was $550. Paid Woods Sportswear in full. Granted an allowance to members for clothing that did not fit properly $90. Received payments on account from members $1,250. Journalize the April transactions using a perpetual Inventory system. (If no entry is required, select "No Entry for the account titles and entero for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit 2000 Date Apr. 5 Account Titles and Explanation Inventory 2000 Accounts Payable Apr. 7 . Inventory Cash 200 Apr. 9 Accounts Payable Inventory 38916