At the beginning of the current season on April 1, the ledger of Oriole Pro Shop showed Cash $3,020; Inventory $4,020; and Common Stock $7,040. The following transactions occurred during April 2022. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,560, terms 3/10, n/60. Paid freight on Arnie Co. purchases $83. Received credit from Arnie Co. for merchandise returned $260. Sold merchandise on account to members $1,394, terms n/30. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $863, terms 2/10, n/30. Paid Arnie Co. in full.. Received credit from Woods Sportswear for merchandise returned $63. Made sales on account to members $842, terms n/30. Paid Woods Sportswear in full. Granted credit to members for clothing that did not fit properly $83. Received payments on account from members $1.269.
At the beginning of the current season on April 1, the ledger of Oriole Pro Shop showed Cash $3,020; Inventory $4,020; and Common Stock $7,040. The following transactions occurred during April 2022. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,560, terms 3/10, n/60. Paid freight on Arnie Co. purchases $83. Received credit from Arnie Co. for merchandise returned $260. Sold merchandise on account to members $1,394, terms n/30. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $863, terms 2/10, n/30. Paid Arnie Co. in full.. Received credit from Woods Sportswear for merchandise returned $63. Made sales on account to members $842, terms n/30. Paid Woods Sportswear in full. Granted credit to members for clothing that did not fit properly $83. Received payments on account from members $1.269.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PREPARE TRIAL BALANCE
![At the beginning of the current season on April 1, the ledger of Oriole Pro Shop showed Cash $3,020; Inventory $4,020; and Common
Stock $7,040. The following transactions occurred during April 2022.
Apr.
5
7
9
10
12
14
17
20
21
27
30
Purchased golf bags, clubs, and balls on account from Arnie Co. $1,560, terms 3/10, n/60.
Paid freight on Arnie Co. purchases $83.
Received credit from Arnie Co. for merchandise returned $260.
Sold merchandise on account to members $1,394, terms n/30.
Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $863, terms 2/10, n/30.
Paid Arnie Co. in full.
Received credit from Woods Sportswear for merchandise returned $63.
Made sales on account to members $842, terms n/30.
Paid Woods Sportswear in full.
Granted credit to members for clothing that did not fit properly $83.
Received payments on account from members $1,269.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff66b2e2e-fc33-4aee-8d71-91f5cc1b7b54%2Fd180f8c9-4877-4792-94ce-7e823b9a400b%2Fib18ner_processed.jpeg&w=3840&q=75)
Transcribed Image Text:At the beginning of the current season on April 1, the ledger of Oriole Pro Shop showed Cash $3,020; Inventory $4,020; and Common
Stock $7,040. The following transactions occurred during April 2022.
Apr.
5
7
9
10
12
14
17
20
21
27
30
Purchased golf bags, clubs, and balls on account from Arnie Co. $1,560, terms 3/10, n/60.
Paid freight on Arnie Co. purchases $83.
Received credit from Arnie Co. for merchandise returned $260.
Sold merchandise on account to members $1,394, terms n/30.
Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $863, terms 2/10, n/30.
Paid Arnie Co. in full.
Received credit from Woods Sportswear for merchandise returned $63.
Made sales on account to members $842, terms n/30.
Paid Woods Sportswear in full.
Granted credit to members for clothing that did not fit properly $83.
Received payments on account from members $1,269.
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