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