At the beginning of the current season on April 1, the ledger of Tamarisk, Inc. Shop showed Cash $1,900, Inventory $2,500, and Common Stock $4,400. The following transactions were completed during April 2022. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf discs, bags, and other inventory on account from Arnie Co. $1,050, FOB shipping point, terms 2/10, n/60. Paid freight on the Arnie purchase $60. Received credit from Arnie Co. for merchandise returned $200. Sold merchandise on account for $930, terms n/30. The merchandise sold had a cost of $558. Purchased disc golf shirts and other accessories on account from Woods Sportswear $560, terms 1/10, n/30. Paid Arnie Co. in full, less discount. Received credit from Woods Sportswear for merchandise returned $60. Made sales on account to members for $680, terms n/30. The cost of the merchandise sold was $350. Paid Woods Sportswear in full, less discount. Granted an allowance to members for clothing that did not fit $10. Received payments on account from members $860. The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold Chos: Homework Question 3 of 31 (a) Journalize the April transactions using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. De not indent manually. If no enéry is required, select "No Entry for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Account Titles and Explanation Date education wir Apr.5: Debit Credit
At the beginning of the current season on April 1, the ledger of Tamarisk, Inc. Shop showed Cash $1,900, Inventory $2,500, and Common Stock $4,400. The following transactions were completed during April 2022. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf discs, bags, and other inventory on account from Arnie Co. $1,050, FOB shipping point, terms 2/10, n/60. Paid freight on the Arnie purchase $60. Received credit from Arnie Co. for merchandise returned $200. Sold merchandise on account for $930, terms n/30. The merchandise sold had a cost of $558. Purchased disc golf shirts and other accessories on account from Woods Sportswear $560, terms 1/10, n/30. Paid Arnie Co. in full, less discount. Received credit from Woods Sportswear for merchandise returned $60. Made sales on account to members for $680, terms n/30. The cost of the merchandise sold was $350. Paid Woods Sportswear in full, less discount. Granted an allowance to members for clothing that did not fit $10. Received payments on account from members $860. The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold Chos: Homework Question 3 of 31 (a) Journalize the April transactions using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. De not indent manually. If no enéry is required, select "No Entry for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Account Titles and Explanation Date education wir Apr.5: Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Qq.3.
![← Ch05: Homework
6
← Ch05: Homework
Question 3 of 3
6
Apr. 10:
Apr. 20
Apr. 12
Apr. 14
Show Transcribed Text
Apr. 17
Apr. 17
Apr. 20
Apr.21
Apr 27
Question 3 of 3 <
Apr.30
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Transcribed Image Text:← Ch05: Homework
6
← Ch05: Homework
Question 3 of 3
6
Apr. 10:
Apr. 20
Apr. 12
Apr. 14
Show Transcribed Text
Apr. 17
Apr. 17
Apr. 20
Apr.21
Apr 27
Question 3 of 3 <
Apr.30
<
[To record credit sale.]
To record cost of merchandise sold)
C
>
To record credit sale
To record credit sale.
To record cost of merchandise sold)
Touthank and Maria
education wleycom
education on
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-13 E 1
-13 E
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+88
Transcribed Image Text:At the beginning of the current season on April 1,
the ledger of Tamarisk, Inc. Shop showed Cash
$1,900, Inventory $2,500, and Common Stock
$4,400. The following transactions were
completed during April 2022.
Apr.
5
7
9
10
12
14
17
20
21
27
30
Purchased golf discs, bags, and other inventory on account from Arnie Co. $1,050, FOB shipping point, terms
2/10, n/60.
Paid freight on the Arnie purchase $60.
Received credit from Arnie Co. for merchandise returned $200.
Sold merchandise on account for $930, terms n/30. The merchandise sold had a cost of $558.
Purchased disc golf shirts and other accessories on account from Woods Sportswear $560, terms 1/10, n/30.
Paid Arnie Co. in full, less discount.
Received credit from Woods Sportswear for merchandise returned $60.
Made sales on account to members for $680, terms n/30. The cost of the merchandise sold was $350.
Paid Woods Sportswear in full, less discount.
Granted an allowance to members for clothing that did not fit $10.
Received payments on account from members $860.
The chart of accounts for the store includes the
following: No. 101 Cash, No. 112 Accounts
Receivable, No. 120 Inventory, No. 201 Accounts
Payable, No. 311 Common Stock, No. 401 Sales
Revenue, No. 412 Sales Returns and Allowances,
and No. 505 Cost of Goods Sold
6
Ch05: Homework
Question 3 of 3 < >
(a)
Date
Apr.5:
Journalize the April transactions using a perpetual inventory system. (Credit account titles are automatically indented when
amount is entered. De not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 [or
the amounts. Record journal entries in the order presented in the problem.
Apr. 7
Apr.9
Apr.10
Show Transcribed Text
:
Account Titles and Explanation
education com
To record credit sale!
-13 E
Debit
1
Credit
+88
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