P5-4A & P5-7A week 2 individual

P5-4A & P5-7A week 2 individual - P5-4A J. Hafner, a...

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Unformatted text preview: P5-4A J. Hafner, a former professional tennis star, operates Hafner's Tennis Shop at the Miller Lake Resort. At the beginning of the current season, the ledger of Hafner's Tennis Shop showed Cash $2,500, Merchandise Inventory $1,700, and J. Hafner, Capital $4,200. The following transactions were completed during April.(a)General JournalJ1DateAccount Titles and ExplanationDebitCreditApr.4Merchandise InventoryAccounts Payable8408406Merchandise InventoryCash40408Accounts ReceivableSalesCost of Goods SoldMerchandise Inventory1,1507901,15079010Accounts PayableMerchandise Inventory404011Merchandise InventoryCash42042013Accounts Payable ($840 $40)Merchandise Inventory($800 X 2%)Cash8001678414Merchandise InventoryAccounts Payable90090015CashMerchandise Inventory505017Merchandise InventoryCash303018Accounts ReceivableSales810810Cost of Goods SoldMerchandise Inventory530530General JournalJ1DateAccount Titles and ExplanationDebitCreditApr.20CashAccounts Receivable50050021Accounts PayableMerchandise Inventory($900 X 3%)Cash9002787327Sales Returns and AllowancesAccounts Receivable303030CashAccounts Receivable660660(b)CashNo. 101DateExplanationRef.DebitCreditBalanceApr.1611131517202130BalanceJ1J1J1J1J1J1J1J15050066040420784308732,5002,4602,0401,2561,3061,2761,7769031,563Accounts ReceivableNo. 112DateExplanationRef.DebitCreditBalanceApr.818202730J1J1J1J1J11,150810500306601,1501,9601,4601,430770Merchandise InventoryNo. 120DateExplanationRef.DebitCreditBalanceApr.14681011131415171821BalanceJ1J1J1J1J1J1J1J1J1J1J18404042090030790401650530271,7002,5402,5801,7901,7502,1702,1543,0543,0043,0342,5042,477Accounts PayableNo. 201DateExplanationRef.DebitCreditBalanceApr.410131421J1J1J1J1J140800900840900840800900Common StockNo. 311DateExplanationRef.DebitCreditBalanceApr.1Balance4,200SalesNo. 401DateExplanationRef.DebitCreditBalanceApr.818J1J11,150...
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P5-4A & P5-7A week 2 individual - P5-4A J. Hafner, a...

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