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Problem 5-04A a-c (Part Level Submission) Ayayai Hagen, a former disc golf star, operates Ayayai's Discorama. At the beginning of the current season on April
Problem 5-04A a-c (Part Level Submission) Ayayai Hagen, a former disc golf star, operates Ayayai's Discorama. At the beginning of the current season on April 1, the ledger of Ayayai's Discorama showed Cash $1,800, Inventory $2,500, and Owner's Capital $4,300. The following transactions were completed during April Apr. 5 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,050, FOB shipping point, terms 2/10, n/60 7 Paid freight on the Mumford purchase $40. 9 Received credit from Mumford Co. for merchandise returned $100. 10 Sold merchandise on account for $860, terms n/30. The merchandise sold had a cost of $516. 12 Purchased disc golf shirts and other accessories on account from Saucer Sportswear $680, terms 1/10, n/30 14 Paid Mumford Co. in full, less discount. 17 Received credit from Saucer Sportswear for merchandise returned $80 20 Made sales on account for $700, terms n/30. The cost of the merchandise sold was $350 21 Paid Saucer Sportswear in full, less discount. 27 Granted an allowance to customers for clothing that was flawed $10. 30 Received payments on account from customers $920. The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. Your answer is partially correct. Try again. 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 Apr. 5 Inventory 1050 Date Account Titles and Explanation Debit Credit Apr. 5Inventory 1050 Accounts Payable 1050 , Apr. 7-|Inventory 40 Cash 40 Apr. 9 Accounts Payable 100 Inventory 100 Apr. 10 Accounts Receivable 860 Sales Revenue (To record credit sale.) Cost of Goods Sold 860 Apr 10 516 Inventory 516 (To record cost of merchandise sold.) Apr. 12 | |Inventory 680 Accounts Payable 680 To record coSt of merchadise Soid.) Apr. 12Inventory 680 Accounts Payable 680 Apr. 14 Accounts Payable Cash Inventory Apr. 17 Accounts Payable 80 Inventory 80 Apr. 20 Accounts Receivable 700 Sales Revenue 700 (To record credit sale.) Apr. 20Cost of Goods Sold 350 Inventory 350 (To record cost of merchandise sold.) Apr. 21 Accounts Payable Apr. 21 Accounts Payable Cash Inventory 10 ' Apr. 27 Sales Returns and Allowances 10 Accounts Receivable 920 Apr. 30 | | Cash 920 Accounts Receivable Open Show Work Click if you would like to Show Work for this
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