J. Li, a former professional tennis star, operates Li's Tennis Shop at the Yellow River Resort. Li's Tennis Shop using a

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J Li A Former Professional Tennis Star Operates Li S Tennis Shop At The Yellow River Resort Li S Tennis Shop Using A 1 (88.37 KiB) Viewed 34 times

J. Li, a former professional tennis star, operates Li's Tennis Shop at the Yellow River Resort. Li's Tennis Shop using a perpetual inventory system At the beginning of the current season, the ledger of Li's Tennis Shop showed Cash $2,700, Accounts Receivable $3,000, Merchandise Inventory $2,100, Accounts Payable $3,800 and Share Capital-Ordinary $4,000 The following transactions were completed during April. April 4 Purchased racquets and balls from new supplier, Wellman Co., $2000, FOB shipping point, terms 4/10, n/30. April 6 Paid freight on purchase from Wellman Co. $80. **do not input comma ",", dollar sign "$" for numerical figures, for five thousand dollars, just input 5000, otherwise, no marks will be awarded! At the beginning of April 7: The balance of the Merchandise Inventory account $ The balance of Cash account is $ The balance of the Accounts Payable account $ April 10 Received credit of $100 from Wellman Co. for a racquet that was returned April 14 Paid Wellman Co. in full. At the beginning of April 15: The balance of the Merchandise Inventory account $ The balance of Cash account is $ The balance of the Accounts Payable account $ April 16 Half of the goods purchased from Wellman Co was sold for cash $2800. At the beginning of April 17: The balance of the Merchandise Inventory account $ The balance of Cash account is $