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Problems: Set A instructions Record the September transactions on Norlan's books b) Assume that Norlandid not October 3 instead of September 2 Norlan did not

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Problems: Set A instructions Record the September transactions on Norlan's books b) Assume that Norlandid not October 3 instead of September 2 Norlan did not take advantage of the purchase discount offered by Hillary Corp. and paid Hillary on tead of September 20. Record the entry that Norlan would make on October 3 and determine the cost of missing this purchase discount to Norlan. PS-4A At the beginning of the Recor an prepo (LO2 ne beginning of the current golf season, on April 1, 2018, the general ledger of In the Pines Golf Shop showed perpetual inventory system. Enventory $19.500, Common Shares $12.000, and Retained Earnings $11.700. In the Pines Golf Shop uses a The following transactions occurred in April: Apr 3 Purchased golf bags, clubs, and balls on account from Balata Corp. for $3,200, terms 1/10, n/JO, FOB shipping point. 5 Freight of $286 was paid by the appropriate party on the April 3 purchase from Balata. 7 Sold merchandise on account to members for $9.750, terms 1/30. The cost of the merchandise sold was $5,850. 9 Received a $320 purchase allowance from Balata for returned merchandise. 11 Paid Balata in full. 14 Received payments on account from members, $4,150. 16 Purchased golf shoes, sweaters, and other accessories on account from Arrow Sportswear Limited for $1,300, terms 2/10, n/30. 17 Received a $100 credit from Arrow Sportswear for returned merchandise. 20 Sold merchandise on account to members for $11.100, terms n/30. The cost of the merchandise sold was $6,200. 24 Paid Arrow Sportswear in full. 25 Received payments on account from members, $4,375. 27 Granted an $85 sales allowance to a member for a flaw in the clothing they had purchased. No merchandise was returned. Instructions (a) Record the April transactions. (b) Set up T accounts, enter the opening balances, and post the transactions recorded in part(a) (c) Prepare a trial balance as at April 30. PSSA Eagle Hardware Store Lid. completed the following merchandising transactions in the month of May 2018. At the beginning of May. Eagle's ledger showed Cash $7.000; Accounts Receivable $1,500; Inventory $3,500; Common Shares $8,000; and Retained Earnings $4.000. Eagle Hardware uses a perpetual inventory system. May 1 Purchased merchandise on account from Depot Wholesale Supply Lid. for $5,800, terms 1/10, n/30, FOB shipping point. 3 Freight charges of $145 were paid by the appropriate party on the merchandise purchased on May 1 4 Sold merchandise on account to Shep Ltd. for $3,500, terms 2/10, n/30, FOB destination. The cost of the merchandise was $2,100. 7 Freight charges of S90 were paid by the appropriate party on the May 4 sale. A Received a $200 credit from Depot Wholesale Supply when merchandise was returned 9 Paid Depot Wholesale Supply in full. 11 Purchased supplies for $400 cash. 14 Received payment in full from Shep Ltd. for merchandise sold on account on May 4 15 Collected $1,000 of the accounts receivable outstanding at the beginning of the month. All accounts were originally sold on terms of n/30, with no sales discounts. 14 Purchased merchandise from Harlow Distributors Inc. for $2,000, terms n/30, FOB destination 21 Freight of $50 was paid by the appropriate party on the May 18 purchase of merchandise

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