Vree Distributing Company completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of Vree showed Cash of 8,200 and Share CapitalOrdinary of 8,200.

Apr. 2		Purchased merchandise on account from Walker Supply Co. 6,700, terms 2/10, n/30.
4		Sold merchandise on account 6,000, FOB destination, terms 1/10, n/30. The cost of the merchandise sold was 3,480.
5		Paid 260 freight on April 4 sale.
6		Received credit from Walker Supply Co. for merchandise returned 700.
11		Paid Walker Supply Co. in full, less discount.
13		Received collections in full, less discounts, from customers billed on April 4.
14		Purchased merchandise for cash 4,590.
16		Received refund from supplier for returned goods on cash purchase of April 14, 560.
18		Purchased merchandise from Benjamin Distributors 5,000, FOB shipping point, terms 4/10, n/30.
20		Paid freight on April 18 purchase 140.
23		Sold merchandise for cash 6,660. The merchandise sold had a cost of 5,360.
26		Purchased merchandise for cash 2,360.
27		Paid Benjamin Distributors in full, less discount.
29		Made refunds to cash customers for defective merchandise 84. The returned merchandise had a fair value of 34.
30		Sold merchandise on account 4,440, terms n/30. The cost of the merchandise sold was 1,980.

Vree Distributing Companys chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share CapitalOrdinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No. 505 Cost of Goods Sold, and No. 644 Freight-Out.

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