Problem - Yolanda Hagen, a former disc golf star, operates Yolanda's Discorama. At the beginning of the current season on April 1, the ledger of Yolanda's Discorama showed Cash $1,800, Inventory $2,500, and Owner's Capital $4,300. The following transactions were completed during April.

Apr. 5 Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,000, FOB shipping point, terms 2/10, n/60.

7 Paid freight on the Mumford purchase $40.

9 Received credit from Mumford Co. for merchandise returned $100.

10 Sold merchandise on account for $980, terms n/30. The merchandise sold had a cost of $588.

12 Purchased disc golf shirts and other accessories on account from Saucer Sportswear $670, terms 1/10, n/30.

14 Paid Mumford Co. in full, less discount.

17 Received credit from Saucer Sportswear for merchandise returned $70.

20 Made sales on account for $700, terms n/30. The cost of the merchandise sold was $300.

21 Paid Saucer Sportswear in full, less discount.

27 Granted an allowance to customers for clothing that was flawed $40.

30 Received payments on account from customers $980.

Required -

Journalize the April transactions using a perpetual inventory system.

Enter the beginning balances in the ledger accounts and post the April transactions.

Prepare a trial balance on April 30, 2017.