Record of transactions

At the beginning of the current golf season, on April 1,2021, the general fedger of the In the Bridgeport Golf Shop Limited showed Cash $5,200 : Irventory $24,570; Common Shares $15,120; and Retained Earnings $14,650. The In the Bridgeport Golf Shop uses a perpetual inventory system and experiences a return rate of 2% on sales. The followirg transactions occurred in April: Aor. 3 Purchased golf bags, clubs, and balls on account from Balata Corp. for 54,032 , terms 1/10, n/30, FOB shipping point. 5. Freight of $367 was paid by the appropriate party on the April 3 purchase from Balata. 7. Sold merchandise on account to members for $12,400, terms n/30. The cost of the merchandise sold was $7,000, 9. Received a $394 credit from Balata for returned merchandise. 11 Paid Balats in full: 14 Received payments on account from members, $5,229. 16 Purchased galf shoes sweaters, and other sccessories on occount from Arrow Sportswear Limited for 51.690. termu 2/10,n/30, 17. Recelved a $126 credit from Arrow Sportswear for returned merchandise. 20 Sold merchandise on yccount to members for $13,500, terms n/30. The cost of the merchandise sold was 57.300. 24. PaidArrow Soortsweat in full