Problem 5-3A At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $2,990; Inventory $3,500; and Common Stock $6,490. The following transactions were completed during April 2017 Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,100, terms 2/10, n/60 Paid freight on Arnie purchase $80 7 9 Received credit from Arnie Co. for merchandise returned $500 10 Sold merchandise on account to members $1,380, terms n/30. The merchandise sold had a cost of $890 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $1,050, terms 2/10, n/30 14 Paid Arnie Co. in full 17 Received credit from Woods Sportswear for merchandise returned $50 20 Made sales on account to members $860, terms n/30. The cost of the merchandise sold was $550 21 Paid Woods Sportswear in full 27 Granted an allowance to members for clothing that did not fit properly $90 30 Received payments on account from members $1,290 Journalize the April transactions using a perpetual 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 O decimal places, e.g.5,275.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of goods sold) (To record credit sale) (To record cost of goods sold) (To record cost of goods sold) 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 For accounts that have a zero balance select "4/30 Bal."from the list and enter 0 for the amount.) Cash Accounts Receivable Common Stock Sales Revenue Sales Returns and Allowances Cost of Goods Sold Prepare a trial balance on April 30, 2017. (Do not list those accounts that have zero ending balance.) GRANITE HILLS PRO SHOP Trial Balance Debit Credit Prepare an income statement through gross profit for the month of April 2017. GRANITE HILLS PRO SHOP Income Statement (Partial)