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 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,150, FOB shipping point, terms 2/10, n/60. 7 Paid freight on the Mumford purchase $50. 9 Received credit from Mumford Co. for merchandise returned $200. 10 Sold merchandise on account for $810, terms n/30. The merchandise sold had a cost of $486. 12 Purchased disc golf shirts and other accessories on account from Saucer Sportswear $640, terms 1/10,n/30. 14 Paid Mumford Co. in full, less discount. 17 Received credit from Saucer Sportswear for merchandise returned $40. 20 Made sales on account for $650, terms n/30. The cost of the merchandise sold was $350. 21 Paid Saucer Sportswear in full, less discount. 27 Granted an allowance to customers for clothing that did not fit $30. 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. (a) 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. (a) 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 for the amounts.) Date Account Titles and Explanation Debit Credit (To record credit sale.) (To record cost of merchandise sold.) > eTextbook and Media List of Account (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. Date Explanation Rel Debit Credit Balance Apr1 V Balance Apr. V 11 Apr 14 31 Apr 21 31 Apr. 30 V J1 Accounts Receivable No. Date Explanation Rel. Debit Credit Balance Apr. 10 V Ji Apr 20 V 11 Apr 27 V 31 Apr 30 V 31 No. Inventory Debit Date Explanation Rel. Credit Balance Balance 11 V 31 31 J1 11 V 11 J1 21 11 Accounts Payable No. Date Explanation Ref. Debit Credit Balance 11 11 J1 J1 21 J1 Owner's Capital No. Date Explanation Rel. Det Credit Balance Balance Sales Revenue No. Date Explanation Ref Delit Credit Balance J1 on.wiley.com/was/ui/v2/assessment-player/index.html?launchld=8d644691-a2 Date Explanation Ref. Debit Credit Balance Balance 31 J1 J1 J1 11 J1 J1 31 > J1 Accounts Payable No. Date Explanation Ref. Debit Credit Balance J1 J1 J1 J1 J1 J1 Owner's Capital No. 3 Date Explanation Ref. Debit Credit Balance Balance Sales Revenue No.4 Date Explanation Ref. Debit Credit Balance J1 J1 Sales Returns and Allowances No. Date Explanation Ref. Debit Credit Balance J1 Cost of Goods Sold No. Date Explanation Ref. Debit Credit Balance J1 31 e Textbook and Media List of Accounts Save for Later Last saved 15 hours ago. Attempts: 0 of 5 used Submit Answer (c) (c) Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.) CULVER'S DISCORAMA Trial Balance Debit Credit $ Totals $ $ e Textbook and Media