At the beginning of the current season on April 1, the ledger of Flint Hills Pro Shop showed Cash $2,610;...

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At the beginning of the current season on April 1, the ledger of Flint Hills Pro Shop showed Cash $2,610; Inventory $3,500; and Common Stock $6,110. The following transactions were completed during April 2014.

Apr. 5 Purchased golf bags, clubs, and balls on account from Akers Co. $1,400, terms 3/10, n/60.
7 Paid freight on Akers purchase $80.
9 Received credit from Akers Co. for merchandise returned $400.
10 Sold merchandise on account to members $1,380, terms n/30. The merchandise sold had a cost of $810.
12 Purchased golf shoes, sweaters, and other accessories on account from Palmer Sportswear $870, terms 2/10, n/30.
14 Paid Akers Co. in full.
17 Received credit from Palmer Sportswear for merchandise returned $70.
20 Made sales on account to members $910, terms n/30. The cost of the merchandise sold was $550.
21 Paid Palmer Sportswear in full.
27 Granted an allowance to members for clothing that did not fit properly $80.
30 Received payments on account from members $1,100.
    • Posted: 5 years ago
    • Budget: $999999.99