Reference no: EM132824840

At the beginning of the current season on April 1, the ledger of Pharoah Pro Shop showed Cash $2,620; Inventory $3,500; and Common Stock $6,120. The following transactions were completed during April 2022.

1. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,200, terms 3/10, n/60.
2. 7 Paid freight on Arnie purchase $80.
3. 9 Received credit from Arnie Co. for merchandise returned $400.
4. 10 Sold merchandise on account to members $1,480, terms n/30. The merchandise sold had a cost of $820.
5. 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $840, terms 2/10, n/30.
6. 14 Paid Arnie Co. in full.
7. 17 Received credit from Woods Sportswear for merchandise returned $40.
8. 20 Made sales on account to members $840, terms n/30. The cost of the merchandise sold was $550.
9. 21 Paid Woods Sportswear in full.
10. 27 Granted an allowance to members for clothing that did not fit properly $75.
11. 30 Received payments on account from members $1,260.

Problem 1: Journalize the April transactions using a perpetual inventory system.