At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop...
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At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $3,045; Inventory $4,045; and Common Stock $7,090. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,635, terms 4/10, n/60. 7 Paid freight on Arnie Co. purchases $87. 9 Received credit from Arnie Co. for merchandise returned $335. 10 Sold merchandise on account to members $1,461, terms n/30. 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $905, terms 1/10, n/30. 14 Paid Arnie Co. in full. 17 Received credit from Woods Sportswear for merchandise returned $105. 20 Made sales on account to members $883, terms n/30. 21 Paid Woods Sportswear in full. 27 Granted credit to members for clothing that did not fit properly $87. 30 Received payments on account from members $1,330. Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.) SANDHILL PRO SHOP Trial Balance LA Debit 69 LA 69 Credit At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $3,045; Inventory $4,045; and Common Stock $7,090. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,635, terms 4/10, n/60. 7 Paid freight on Arnie Co. purchases $87. 9 Received credit from Arnie Co. for merchandise returned $335. 10 Sold merchandise on account to members $1,461, terms n/30. 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $905, terms 1/10, n/30. 14 Paid Arnie Co. in full. 17 Received credit from Woods Sportswear for merchandise returned $105. 20 Made sales on account to members $883, terms n/30. 21 Paid Woods Sportswear in full. 27 Granted credit to members for clothing that did not fit properly $87. 30 Received payments on account from members $1,330. Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.) SANDHILL PRO SHOP Trial Balance LA Debit 69 LA 69 Credit
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Journal Entry Sandhil Pro Shop Periodic Inventory Date Account... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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