P5-7A week 2 individual

P5-7A week 2 individual - P5-7AAt the beginning of the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: P5-7AAt the beginning of the current season, the ledger of Village Tennis Shop showed Cash$2,500; Merchandise Inventory $1,700; and Common Stock $4,200. The following transactions were completed during April.Apr. 4 Purchased racquets and balls from Denton Co. $740, terms 3/10, n/30.6 Paid freight on Denton Co. purchase $60.8 Sold merchandise to members $900, terms n/30.10 Received credit of $40 from Denton Co. for a damaged racquet that was returned.11 Purchased tennis shoes from Newbee Sports for cash $300.13 Paid Denton Co. in full.14 Purchased tennis shirts and shorts from Venuss Sportswear $600, terms 2/10, n/60.15 Received cash refund of $50 from Newbee Sports for damaged merchandise that wasreturned.17 Paid freight on Venuss Sportswear purchase $30.18 Sold merchandise to members $1,000, terms n/30.20 Received $500 in cash from members in settlement of their accounts.21 Paid Venuss Sportswear in full.27 Granted an allowance of $30 to members for tennis clothing that did not fit properly....
View Full Document

This note was uploaded on 06/20/2011 for the course ACCT 281 taught by Professor Shelburn during the Spring '10 term at University of Phoenix.

Page1 / 4

P5-7A week 2 individual - P5-7AAt the beginning of the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online