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Problem 5-4A

Yolanda Hagen, a former disc golf star, operates Yolandas Discorama. At the beginning of the current season on April 1, the ledger of Yolandas Discorama showed Cash $1,800, Inventory $2,200, and Owners Capital $4,000. The following transactions were completed during April.

journalize the April transactions using a perpetual inventory system.

Enter the beginning balances in the ledger accounts and post the April transactions.

Prepare a trial balance on April 30, 2017.

Apr. 5		Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,200, FOB shipping point, terms 2/10, n/60.
7		Paid freight on the Mumford purchase $40.
9		Received credit from Mumford Co. for merchandise returned $100.
10		Sold merchandise on account for $910, terms n/30. The merchandise sold had a cost of $546.
12		Purchased disc golf shirts and other accessories on account from Saucer Sportswear $665, terms 1/10, n/30.
14		Paid Mumford Co. in full, less discount.
17		Received credit from Saucer Sportswear for merchandise returned $65.
20		Made sales on account for $550, terms n/30. The cost of the merchandise sold was $300.
21		Paid Saucer Sportswear in full, less discount.
27		Granted an allowance to customers for clothing that was flawed $10.
30		Received payments on account from customers $920.

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