At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $ 3,360: inventory $ 3,500: and Common Stock $ 6,860. The following transactions were completed during April 2017.Apr. 5Purchased golf bags, clubs, and balls on account from Arnie Co. $ 1,500, terms 3/10, n/60.7Paid freight on Arnie purchase $ 80.9Received credit from Arnie Co. for merchandise returned $700.10Sold merchandise on account to members $1,420, terms n/30. The merchandise sold had a cost of $ 770.12Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $ 1,060, terms 2/10, n30.14Paid Arnie Co. in full.17Received a credit from Woods Sportswear for merchandise returned $60.20Made sales on account to members $ 820, terms n/30. The cost of the merchandise sold was $550.21Paid Woods Sportswear in full.27Granted an allowance to members for clothing that did not fit properly $70.30Received payments on account from members $1,370.1. Journalize the April transactions using a perpetual inventory system.2. Prepare an income statement through gross profit for the month of April 2017.

                                    Journal Entries

Date       Account Titles & Explanation    Debit     Credit

Apr 5       Purchases                                   $1,500

                      Accounts Payable                               $1,500

Apr 7       Freight-in                                      $80

                        Cash                                                    $80

Apr 9      Accounts Payable                        $700

                        Purchase Returns and Allowances   $700

Apr 10     Accounts receivable                    $1,420

                          Sales                                                  $1,420

Apr 10      Cost of goods sold                       $770  

                            Inventory                                           $770

Apr 12      Purchases                                     $1,060

                           Accounts Payable                              $1,060

Apr 14       Accounts Payable                        $800

                     ($1500-$700 )

                            Purchase Discounts                             $24

                            ($800 * 3%)

                             Cash                                                      $776

Apr 17        Accounts Payable                         $60

                         Purchase Returns and Allowances          $60

Apr 20      Accounts receivable                       $820

                           Sales                                                         $820

                    (To record credit sales)

Apr 20      Cost of goods sold                           $550

                           Inventory                                                   $550

Apr 21       Accounts Payable (1060-60)            $1,000

                          Purchase Discounts                                   $20

                          ($1000 * 2%)

                           Cash                                                            $980

Apr 27      Sales Returns and Allowances          $70

                            Accounts Receivable                                 $70

Apr 30       Cash                                                    $1,370

                           Accounts Receivable                                   $1,370

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.