Problem $7\mathrm{.}4$A $($Static$)$ Recording sales, sales returns, cash discounts, and cash receipts for a wholesale

business. LO $7-1,7-3$

Incredible Sounds is a wholesale business that sells musical instruments. Transactions Involving sales and cash recelpts for the firm

during Aprll $201$ follow. The firm sells its merchandise for cash and on open account. During April, Incredible Sounds engaged in the

following eransactions:

DATE TRANSACTIONS

Apri$11,20$X$1$

April $3,20$X$1$

April $5,20$xi

April $7,20$XI

April &$,20$XI

April $10,20$X$1$

Apr$$l $15,201$

April $17,20$X$1$

April $19,20$X$1$

April $20,20$XI

April $25,201$

April $26,20$XI

April $27,20$XI

April $29,20$x$1$

April $30,201$

Sold merchandise for $$4,500$ to Alto Music Center; issued Invoice $3912$ with terms of $\frac{1}{10},\frac{n}{30}.$

Received a check discount $($$$20).$

Sold merchandise totaling $$1,725$ in cash to a new customer who has not yet established credit.

Merchandise of $$80$ sold on April $5$ is returned for a cash refund.

Sold merchandise for $$6,500$ to Music warehouse; issued Invoice $3913$ with ternis of $\frac{2}{10},\frac{}{30}.$

Received payment from Alto Music Center in payment of Invoice $3912,$ less cash discount.

original sale was made on Invoichandise from Music Warehouse; issued credit Memorandum $185$ for $$2,300.$ The

Received payment from on Invoice $3913$ on April $8.$

deducted the appropriate cashrehouse for the sale of April $8,$ less the return on April $15$; Music warehouse

Received a cash discount from its payment.

Sold merchandis for $$2,300$ as payment in full from Oldies sounds for Invaice $3850$ dated March $20.$

Sold merchandise for $$11,200$ to Halwk Music center; issued Invoice $3914$ with terms of $\frac{2}{10},\frac{}{30}.$

Sold merchandise for $$10,600$ to Modern Sounds; issued Invoice $3915$ with terms of $\frac{2}{10},\frac{n}{30}.$

Accepted a return of damaged merchandise Tunes; issued Invoice $3916$ with terms of $\frac{2}{10},\frac{}{30}.$

sale was made on Invoice $3915$ on April $25.$

Received payment from Hawk Music Center for the sale of April $20,$ less cash discount.

sold merchandise for $$3,200$ to oldies sounds; issued Invoice $3917$ with terms of $\frac{2}{10},\frac{n}{30}.$

Requlred:

Record the transactions in a general journal.

Analyze:

What was the amount of the cash discount taken by Hawk Music Center on Aprll $29?$

Complete this questionby entering your answers in the tabs below.

Record the transactions in a general journal.