Merchandising operations

| September 29, 2018

At the beginning of the current season on April 1, the ledger of Thousand Oaks Pro Shop showed Cash $2,500; Inventory $3,500; and Common Stock $6,000. The following transactions were completed during April 2012.Apr. 5Purchased golf bags, clubs, and balls on account from Ryder Co. $1,500, terms3/10, n/60.7Paid freight on Ryder purchase $80.9Received credit from Ryder Co. for merchandise returned $200.10Sold merchandise on account to members $1,340, terms n/30. The merchandise sold had a cost of $820.12Purchased golf shoes, sweaters, and other accessories on account from Birdie Sportswear $830, terms1/10, n/30.14Paid Ryder Co. in full.17Received credit from Birdie Sportswear for merchandise returned $30.20Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550.21Paid Birdie Sportswear in full.27Granted an allowance to members for clothing that did not fit properly $80.30Received payments on account from members $1,220.Journalize the April transactions using a perpetual inventory system

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