View Policies Current Attempt in Progress At the beginning of the current season on April 1, the ledger of Culver's Discorama showed Cash $1,800, Inventory $2,200, and Owner's Capital $4,000. The following transactions were completed during April 2022. Apr. 5 7 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,150, FOB shipping point, terms 2/10. n/60. Paid freight on the Mumford purchase $50. 9 Received credit from Mumford Co. for merchandise returned $200. 10 12 14 17 22 & 28 27 30 20 21 Sold merchandise on account for $810, terms n/30. The merchandise sold had a cost of $486. Purchased disc golf shirts and other accessories on account from Saucer Sportswear $640, terms 1/10, n/30. Paid Mumford Co. in full, less discount. Received credit from Saucer Sportswear for merchandise returned $40. Made sales on account for $650, terms n/30. The cost of the merchandise sold was $350. Paid Saucer Sportswear in full, less discount. Granted an allowance to customers for clothing that did not fit $30. Received payments on account from customers $970 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. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. Journalize the April transactions using a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit (b) Enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries presented in the previous part) Cash No. 101 Date Explanation Ref. Debit Credit Balance Balance v 31 31 31 31 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Question 7 of 7 31 Inventory No. 120 Date Explanation Ref. Debit Credit Balance Balance v 31 31 31 31 31 31 31 31 Question 7 of 7 Date Explanation Ref. Debit Credit Balance 31 Cost of Goods Sold No. 505 Date Explanation Ref. Debit Credit Balance 31 eTextbook and Media eTextbook 11 eTextbook 2 eTextbook 3 31 Assistance Used Question 7 of 7 (c) Prepare a trial balance on April 30, 2022 (Do not list those accounts that have zero ending balance) CULVER'S DISCORAMA Trial Balance -/10 Debit Credit