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Problem 5-09A At the beginning of the current season on April 1, the ledger of Cullumber Pro Shop showed Cash $3,065; Inventory $4,065; and Common
Problem 5-09A At the beginning of the current season on April 1, the ledger of Cullumber Pro Shop showed Cash $3,065; Inventory $4,065; and Common Stock $7,130. The following transactions occurred during April 2022. Apr. 5 7 9 10 12 14 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,695, terms 3/10, n/60. Paid freight on Arnie Co. purchases $90. Received credit from Arnie Co. for merchandise returned $395. Sold merchandise on account to members $1,514, terms n/30. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $938, terms 2/10, n/30. Paid Arnie Co. in full. Received credit from Woods Sportswear for merchandise returned $138. Made sales on account to members $915, terms n/30. Paid Woods Sportswear in full. Granted credit to members for clothing that did not fit properly $90. Received payments on account from members $1,379. 17 20 21 27 30 Journalize the April transactions using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter o 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. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Apr. 5 Apr. 7 Apr. 9 Apr. 10 Apr. 12 Apr. 14 Apr. 17 v Apr. 20 v Apr. 21 v Apr. 27 v Apr. 30 v Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries posted in part a. Round answers to O decimal places, e.g. 5,275. For accounts that have a zero balance select "4/30 Bal." from the list and enter o for the amount.) Cash
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