a, b, c, d

At the beginning of the current season on April 1 , the ledger of Ilana Pro Shop showed Cash $3 ,000; Inventory $4,000; and Owner's Capital $7 ,000. These transactions occurred during April 2012. Apr. 5 7 9 10 12 14 17 20 21 27 30 Purchased golf bags, clubs, and balls on account from Co. $1 ,200, FOB shipping point, terms 2/10, n/60. Paid freight on purchases $50. Received credit from Co. for merchandise returned S 100. Sold merchandise on account to members $600, terms n/30. Purchased golf shoes, sweaters, and other accessories on account from Libby Sportswear $450, terms 1/10, 11/30. Paid co. in full. Received credit from Libby Sportswear for merchandise returned $50. Made sales on account to members $600, terms n/30. Paid Libby Sportswear in full. Granted credit to members for clothing that had flaws $35. Received payments on account from members $600. The chart of accounts for the pro shop includes Cash, Accounts Receivable, Inventory , Accounts Payable, Owner's Capital, Sales Revenue, Sales Returns and Allowances, Purchases, Purchase Retums and Allowances, Purchase Discounts, and Freight-in. Instructions (a) Journalize the April transactions using a periodic inventory system. (b) Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. (c) Prepare a trial balance on April 30, 2012. (d) Prepare an income statement through gross profit, assuming merchandise inventory on hand at April 30 is $4$24.