Transactions for the month of April 2017 Credit terms for all sales on account are 2/10, n/30. Candy Fitness uses a perpetual inventory system and therefore records the cost of merchandise sold as well as the sale. Apr 1 Purchased merchandise on account from A+ Flex Fitness Center, $18,260.00. Terms n/30. Apr 1 Sold merchandise on account, Invoice #301, to Miami Connections, $5,850.00. The Cost of Merchandise Sold is $3,744.00. Apr 1 Issued Check No 2201 for $14,268.80 to A+ Flex Fitness Center in payment of its invoice of March 27 for $14,560.00, less a 2% discount. Apr 2 Received a check for $14,406.00 from Extreme Fitness Club in payment of our invoice of March 27 for $14,700 less discount. Apr 2 Issued Check # 2202 for $6,720.00 to Harvey Insurance Company as a prepayment of insurance for a 12-month policy. Apr 3 Issued check #2203 for $46,480.00 to Fitness Network in payment of its invoice of March 27 (no discount). Apr 3 Sold merchandise on account, Invoice 302, to Day & Night Fitness Centers for $12,162.50. COGS is $7,784.00. Apr 3 Received a check from Ana?s Gym in the Grove for $12,348.00 in payment of our invoice of March 27 for $12,600.00, less discount. Apr 4 Issued Check #2204 for $14,000.00 to Iker Enterprises in payment of its invoice of March 28 (no discount). Apr 4 Received a check for $6,174.00 from SF Gyms in payment of our invoice of March 28 for $6,300.00, less discount. Apr 5 Sold merchandise on account, Inv #303, to Ultra Fitness Boxing Gym $30,109.50. COGS is $19,270.08. Apr 5 Purchased Merchandise on Account from Sports A-Z Depot, $51,650.00. Terms are n/30. FOB shipping point. Apr 6 Cash sales for April1-6 were $26,600.00. COGS is $17,024.00. Apr 8 Received a check for $8,232.00 from Ultra Fitness Boxing Gym in payment of our invoice of March 29 for $8400.00, less discount. Apr 8 Purchased merchandise on account form Fit & Health Products, $5,360.00, terms 2/10, n/30. Apr 8 Sold merchandise on account, Inv # 304, to SF Gyms, $24,462.50. The COGS is $15,656.00. Apr 8 Received a check for $10,976.00 from Miami Beach Fitness Club in payment of our invoice of March 30 for $11,200.00 less discount. Apr 9 Purchased from the following on account from Fitness Network: display (charge to Store Supplies), $2,100; merchandise, $9,600.00. Total $11,700.00. Terms are n/30. Apr 9 Issued Credit Memorandum # 107 to SF Gyms for merchandise returned on Invoice # 304 of Apr 8, $937.50. COGS is $600.00 Apr 10 Issued check #2205 for $175 to Rene Candy for customer entertainment (charge to Misc Selling Expense). Apr 10 Sold merchandise on account, Invoice #305, to Gables Gym, $15,237.50. The COGS is $9,752.00. Apr 11 Received Credit Memo #432 from Fit & Health Products for merchandise returned, $840.00. Apr 11 Received a check for $300.00 from SupplyMax Supply for return of store supplies that were originally purchased for cash. Apr 11 Received a check for $5,733.00 from Miami Connection in payment of Inv #301 for $5,850.00, less discount. Apr 12 Received a check for $11,919.25 from Day & Night Fitness Centers in payment of Inv #302 for $12,162.50. Apr 13 Issued check # 2206 for $13,000.00 to Payroll for biweekly salaries: sales salaries, $8,000; office salaries, $5,000. Apr 13 Cash sales for Apr 8-13 were $36,120. The COGS is $23,116.80. Apr 15 Received a check for $29,507.31 from Ultra Fitness Boxing Gym in payment of Inv #303 for $30,109.50, less discount. Apr 16 Purchased the following items on account from A+ Flex Fitness Center, merchandise inventory, $9,180.00; miscellaneous selling expense, $575; store supplies, $250. Total $10,005. Terms n/30. Apr 16 Sold merchandise on account, Inv #306 to Miami Connection, $6,117.50. COGS is $3,915.20. Apr 17 Issued check #2207 for $4,200.00 to Rene Candy for personal use. Apr 17 Issued check #2208 for $441 to U.S. Health and Fitness Magazine for an advertisement. Apr 17 Purchased merchandise on account from Sports A_Z Depot, $17,800. Terms are n/30. FOB shipping point. Apr 18 Issued Check # 2209 for $4,429.60 to Fit & Health Products in payment of the net amount of its invoice of Apr 6 for $5,360, less the return of Apr 11 for $840, less the discount. Apr 18 Issued Check #2210 for $53,200 to Lucas Distributors in payment of its invoice of Narch 21, no discount. Apr 18 Issued Check #2211 for $185 to Sunshine Gazette for an advertisement in the April 15 edition. Apr 18 Received a check for $23,054.50 from SF Gyms in payment of Inv #304 for $24,462.50, less the return of Apr 9 for $937.50, less discount. Apr 19 Issued a credit memo to Miami Connection for merchandise retuned on our April 16 invoice, $600. The COGS is $384. Apr 19 Received a check for $14,932.75 from Gables Gym in payment of Inv # 305 for $15,237.50 less discount. Apr 20 Issued Ch #2212 for $231 to Rene Candy for customer entertainment (charge to Misc Selling Exp). Apr 20 Purchased the following on account from Fitness Network: merchandise, $5,280; store supplies, $250. Total, $5,530. Terms 2/10, n/30. Apr 20 Cash sales for April 15-20 were $27,020. COGS is $17,292.80. Apr 22 Purchased merchandise on account from Iker Enterprises, $3,400. Terms are n/30. Apr 22 Purchased merchandise on account from Fitness Network, $10,800. Terms are 2/10, n/30. Apr 23 Sold merchandise on account, Inv #307, to Day & Night Fitness Centers for $16,156.25. COGS is $10,340. Apr 24 Purchased merchandise on account from Sports A_Z Depot, $2,400. Terms n/30. Apr 24 Issued Ch #2213 for $287 to Miami Cleaning Services for cleaning supplies (Misc Admin Exp). Apr 25 Received a credit memo from Iker Enterprises for merchandise returned, $400. Apr 25 Sold merchandise on acct, Inv #308 to Ana?s Gym in the Grove, $9,262.50. COGS is $5,928. Apr 26 Issued Check #2214 for $13,000 to Payroll for biweekly salaries: sales salaries, $8,000; Office salaries, $5,000. Apr 26 Sold merchandise on account, Inv #309, to Extreme Fitness Club, $4,125. COGS is $2,640. Apr 27 Issued ch #2215 to Miami Water Supply for $340 in payment of the water bill for the month (charge Misc Admin Exp). Apr 27 Issued ch #2216 for $5,419.40 to Fitness Network in payment of its invoice received April 20, less discount. Apr 27 Issued ch #2217 for $2500 to Rene Candy for personal use. Apr 29 Issued check #2218 to ATT for $612 for the telephone bill for the month. (Misc Admin Exp, $204; Misc Selling Exp, $408). Apr 29 Issued check #2219 to MIA Gas & Electric for $360 for gas and electric bill (Misc Admin Expense). Apr 30 Issued Ch #2220 for $700 to South Miami Bank in payment of interest on note payable for April. Apr 30 Received a check for $3,060 from Blue Water Enterprises in payment of a $3,000 note receivable plus $60 interest earned. Apr 30 Cash sales for Apr 22-30 were $28,280. COGS is $18,099.20.

PREPARE JOURNAL ENTRIES FOR ALL TRANSACTIONS.