P5-4A week 2 individual

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

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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 Journal J1 Date Account Titles and Explanation Debit Credit Apr. 4 Merchandise Inventory Accounts Payable 840 840 6 Merchandise Inventory Cash 40 40 8 Accounts Receivable Sales Cost of Goods Sold Merchandise Inventory 1,150 790 1,150 790 10 Accounts Payable Merchandise Inventory 40 40 11 Merchandise Inventory Cash 420 420 13 Accounts Payable ($840 – $40) Merchandise Inventory ($800 X 2%) Cash 800 16 784 14 Merchandise Inventory Accounts Payable 900 900 15 Cash Merchandise Inventory 50 50 17 Merchandise Inventory Cash 30 30 18 Accounts Receivable 810
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Sales Cost of Goods Sold Merchandise Inventory 530 810 530 General Journal J1 Date Account Titles and Explanation Debit Credit Apr. 20 Cash Accounts Receivable 500 500 21 Accounts Payable Merchandise Inventory
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P5-4A week 2 individual - P5-4A J. Hafner, a former...

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