Using T accounts, enter the beginning balances in the ledger accounts and post the April...
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Accounting
Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries posted in part a. Round answers to 0 decimal places, e.g. 5,275. For accounts that have a zero balance select "4/30 Bal." from the list and enter 0 for the amount.)
At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $3,020; Inventory $4,020; and Common Stock $7,040. The following transactions occurred during April 2017.
Apr. 5
Purchased golf bags, clubs, and balls on account from Arnie Co. $1,560, terms 3/10, n/60.
7
Paid freight on Arnie Co. purchases $83.
9
Received credit from Arnie Co. for merchandise returned $260.
10
Sold merchandise on account to members $1,394, terms n/30.
12
Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $863, terms 2/10, n/30.
14
Paid Arnie Co. in full.
17
Received credit from Woods Sportswear for merchandise returned $63.
20
Made sales on account to members $842, terms n/30.
21
Paid Woods Sportswear in full.
27
Granted credit to members for clothing that did not fit properly $83.
30
Received payments on account from members $1,269.
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