At the beginning of the current season on April 1, the records of Sheffield Pro Shop showed Cash $3,070, Inventory $3,500, and Common Stock $6,570. The following transactions occurred during April 2022.
Apr. 5 Purchased golf bags, clubs, and balls on account from Sheridan Co. $2,600.
9 Received credit from Sheridan Co. for merchandise returned $300.
10 Sold merchandise on account to members $1,440. The merchandise sold had a cost of $810.
12 Purchased golf shoes, sweaters, and other accessories on account from Sunland Sportswear $970.
14 Paid Sheridan Co. in full.
17 Received credit from Sunland Sportswear for merchandise returned $70.
20 Made sales on account to members $850. The cost of merchandise sold was $550.
21 Paid Sunland Sportswear in full.
30 Received payments on account from members $1,470.