Question 3 or ii View Policies Current Attempt in Progress Adam Nichols, a former disc golf star, operates Whispering Winds Corp. At the beginning of the current season on April 1, the ledger of Whispering Winds Corp. showed Cash $1,900, Inventory $2,200, and Common Stock $4,100. The following transactions were completed during April. Apr. 5 7 9 10 12 Purchased golf discs, bags, and other inventory on account from Rayford Co $1,200, FOB shipping point, terms 2/10, n/60. Paid freight on the Rayford purchase $60. Received credit from Rayford Co. for merchandise returned $100. Sold merchandise on account for $830, terms n/30. The merchandise sold had a cost of $498. Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $640, terms 1/10, 1/30. Paid Rayford Co. in full, less discount. Received credit from Galaxy Sportswear for merchandise returned $40. Made sales on account for $590, terms n/30. The cost of the merchandise sold was $400. Paid Galaxy Sportswear in full, less discount. Granted an allowance to customers for clothing that was flawed $40. Received payments on account from customers $950. 14 17 20 21 27 30 The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable. No. 120 Inventory. No. 201 Accounts Payable. No, 311 Common Stock. No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 50S Cost of Goods Sold. o c 12 LM Journalize the April transactions using a perpetual inventory system. (Credit accoumt titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,275. no entry is required, select "No Entry for the account titles and enter for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit > {To record credit sale.) -/1 (To record credit sale v (To record cost of merchandise sold.) > To record credit sale:) (To record cost of merchandise sold) M Question 3 of 7 Enter the beginning balances in the ledger accounts and post the April transactions. (Round answers to decimal places, es 5,275. Post entries in the order of journal entries presented in the previous part.) Cash Debit No. 101 Balance Credit Date Explanation Rel. Balance > 31 31 J1 J1 No. 112 Balance Credit Date Accounts Receivable Explanation Ref. Debit 31 J1 > 31 > 31 Inventory Debit No. 120 Balance Credit Date Explanation Ref. Balance J1 31 31 > > > Ji > JI Question 3 of 7 -/1 E 1 Accounts Payable Explanation Rel. Debat J1 No. 201 Ralance Date Credit V 31 JI 31 1 Ji No. 311 Balance Date Common Stock Explanation Ref Debit Balance Credit Sales Revenue No. 401 Balance Date Debit Credit Explanation Ref. 31 31 No. 412 Balance Credit Date Sales Returns and Allowances Explanation Ref. Debit 31 No. SOS Balance Credit Date Cost of Goods Sold Explanation Ref. Debit JI J1 e Textbook and Media List of Accounts LM Prepare a trial balance on April 30, 2020. (Round answers to 0 decimal perces, eg. 5.275) Whispering Winds Corp. Trial Balance Debit Credit $ $ $ Totals e Textbook and Media List of Accounts will