At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $3,280, Inventory $3,500, and Common Stock $6,780. The following transactions were completed during April 2025. Apr.5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,000, terms 3/10, n/60. Paid freight on Arnie purchase $80. Received credit from Arnie Co. for merchandise returned $200. Sold merchandise on account to members $1,220, terms n/30. The merchandise sold had a cost of $770. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $760, terms 1/10, n/30. Paid Arnie Co. in full. Received credit from Woods Sportswear for merchandise returned $60. Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550. Paid Woods Sportswear in full. Granted an allowance to members for clothing that did not fit properly $90. Received payments on account from members $1,250.
At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $3,280, Inventory $3,500, and Common Stock $6,780. The following transactions were completed during April 2025. Apr.5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,000, terms 3/10, n/60. Paid freight on Arnie purchase $80. Received credit from Arnie Co. for merchandise returned $200. Sold merchandise on account to members $1,220, terms n/30. The merchandise sold had a cost of $770. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $760, terms 1/10, n/30. Paid Arnie Co. in full. Received credit from Woods Sportswear for merchandise returned $60. Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550. Paid Woods Sportswear in full. Granted an allowance to members for clothing that did not fit properly $90. Received payments on account from members $1,250.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
journalize the April transactions using a perpetual inventory system.
![At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $3,280, Inventory $3,500, and Common Stock $6,780. The following transactions were completed during April 2025.
Apr. 5
7
Purchased golf bags, clubs, and balls on account from Arnie Co. $2,000, terms 3/10, n/60.
Paid freight on Arnie purchase $80.
Received credit from Arnie Co. for merchandise returned $200.
Sold merchandise on account to members $1,220, terms n/30. The merchandise sold had a cost of $770.
Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $760, terms 1/10, n/30.
Paid Arnie Co. in full.
17 Received credit from Woods Sportswear for merchandise returned $60.
Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550.
Paid Woods Sportswear in full.
Granted an allowance to members for clothing that did not fit properly $90.
Received payments on account from members $1,250.
9
10
279 28
12
14
20
21
27
30](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d9c9f6a-3a92-4650-aee4-d1b63ade92c4%2Fd3607bfc-2c99-42be-8c99-ed75fab8eb24%2Fu3grzp9_processed.png&w=3840&q=75)
Transcribed Image Text:At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $3,280, Inventory $3,500, and Common Stock $6,780. The following transactions were completed during April 2025.
Apr. 5
7
Purchased golf bags, clubs, and balls on account from Arnie Co. $2,000, terms 3/10, n/60.
Paid freight on Arnie purchase $80.
Received credit from Arnie Co. for merchandise returned $200.
Sold merchandise on account to members $1,220, terms n/30. The merchandise sold had a cost of $770.
Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $760, terms 1/10, n/30.
Paid Arnie Co. in full.
17 Received credit from Woods Sportswear for merchandise returned $60.
Made sales on account to members $810, terms n/30. The cost of the merchandise sold was $550.
Paid Woods Sportswear in full.
Granted an allowance to members for clothing that did not fit properly $90.
Received payments on account from members $1,250.
9
10
279 28
12
14
20
21
27
30
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