Problem 5-66A (Algorithmic) Recording Sale and Purchase transactions Ncharack Company sa ne of ti m e to retailers Alphanuses the perpet r y and the o wing transactions during Art 2019, ts first month of operations On or 2. Alhack purchased on credit, 320 wibur 100 me t r o 2/10., The Durchased a cost of $30 each. Alhad paid Baker Thung 5150 tranorthe a s t Achacks warehouse Shi tes were shoping point, and the sweeted on 2 On A purchased for a 150 packs often as for $10 perc On An 4 Acharack purchased tennis dating on credit from Designer Tennis Wear The cost of the terms were 2/10, 125 O on 10Apakaid for the purchase of the tennis rackets Transaction On April 15. Aloharak determined that 5500 of the tennis cothing was defective pharact ed the declive merchant Designer Tennis Wear On April 20. Apharack sold 100 tennis races 590 each, 100 packs of tennis balls at $12 per pack, and 4.000 oftend ing All sales were for cash. The cost of the merchandise sold was 55.220 On Apr 23. stomers returned 5575 of the merchandise purchased on April 20. The cost of the merchandise returned was $300 On April 25, Alpharack sold another so tennis races on credit for 90 each and 25 packs of tennis baat 512 pack for The cost of the merchandise sold was $2.000. On April 29. Alpharack paid Designer Tennis Wear for the clothing purchased on April 4 minus the return on April 15 destination On April 30, Alpharack purchased 20 tennis bags, on credit, from Bag Designs for $320. The bags were shipped and arrived at Alpharack on May 3 Required: 1. Prepare the journal entries to record the sale and purchase transactions for Aipharack during April 2019. Inntry is required select "No entry required and leave the amount boxes bank. For a compound transaction, if an amount box does not require an entry leave it blank Art 2 Purchased inventory on account) A 2 Check My Work more Check My Works remaining Previous Next > All work saved Imal instructor Save and se Submit Assignment for Grading A2 (Paid freight costs) 2. Apri3 Purchased Inventory forca) cort 4 (Purchased Inventory on account) d. April 10 payable within discount period) 15 (Recorded return of verande) April 20 (Made cash sales) April 20 Recorded cost of merchandise CheckMy work more Che W a ng Emas Instructor Save and Exit Submit Assignment for Grading 5 6 7 TO Calculator O 9. April 23 (Recorded return of merchandise) Apr 23 (Recorded cost of goods sold) Art 25 Madees, both cash and on account Arts lli 0 0 0 (Recorded cost of merchandise sold) April 29 (Paid off accounts payable) April 30 Purchased Inventory on account) 2. Assuming operating expenses of $8,500, prepare Alpharack's income statement for April 2019. (Ignore income tax expense Alpharack Income Statement For the Periodded Apr 30, 2019 Cred My Workmore Check My Worker Previous N All work saved Email Instructor Save and Submit Assignment for IT YU Apr 29 Pod of course Preventory ) 2. Assuming seating expenses of $8.500, care Alphard's incom m ent for April 2019. rem ax Alcharack Income Sant Fored 2019 Check My Worte Check My Worker and Al for Grade J K L