Problem 5-8A (Part Level Submission)

At the beginning of the current season on April 1, the ledger of Kokott Pro Shop showed Cash $3,000; Inventory $4,000; and Common Stock $7,000. These transactions occurred during April 2017.

Apr. 5		Purchased golf bags, clubs, and balls on account from Hogan Co. $1,200, FOB shipping point, terms 2/10, n/60.
7		Paid freight on Hogan Co. purchases $50.
9		Received credit from Hogan Co. for merchandise returned $100.
10		Sold merchandise on account to customers $600, terms n/30.
12		Purchased golf shoes, sweaters, and other accessories on account from Duffer Sportswear $450, terms 1/10, n/30.
14		Paid Hogan Co. in full.
17		Received credit from Duffer Sportswear for merchandise returned $50.
20		Made sales on account to customers $600, terms n/30.
21		Paid Duffer Sportswear in full.
27		Granted credit to customers for clothing that had flaws $35.
30		Received payments on account from customers $600.

The chart of accounts for the pro shop includes Cash, Accounts Receivable, Inventory, Accounts Payable, Common Stock, Sales Revenue, Sales Returns and Allowances, Purchases, Purchase Returns and Allowances, Purchase Discounts, and Freight-In.

Please journalize the entries using a periodic inventory system