Prepare the T-accounts for the month of April, including their ending balance. There is no need to prepare the income statement, record closing entries, or prepare the balance sheet.

Transaction 1: Collects $10,000 cash from customers during April for merchandise sold and delivered in

March.

Transaction 2: Sells to customers, on account, merchandise with a selling price of 39,000. The

merchandise cost the firm $22,000, when it purchased the items from its supplier last

month. The firm has not yet paid the supplier for the merchandise.

Transaction 3: Pays suppliers $12,000 during April for merchandise received by the firm from its

suppliers and sold to customers during March.

Transaction 4: Receives from suppliers during April merchandise that cost $47,000 and that the firm

expects to pay for during May. The firm also expects to sell the merchandise in May for

$78,000.

Transaction 5: Receives $5,000 from customers for merchandise that the firm will deliver in May.

Toes Corp. is a footwear store located in South Padre Island. Below is its balance sheet, as of March 31: Assets 60,000 Liabilities plus Shareholders' Equity 60,000 Current Assets 60,000 Liabilities 15,000 Cash 20,000 Accounts Payable 15,000 Accounts Receivable 15,000 Shareholders' Equity 45,000 Inventory 25,000 Contributed Capital 45,000