At the beginning of the current season, the ledger of Village Tennis Shop showed Cash CHF2,500, Inventory CHF1,700, and Owner’s Capital CHF4,200. The following transactions were completed during April.

Apr. 4 Purchased racquets and balls from Hingis AG CHF860, terms 3/10, n/30.
        6 Paid freight on Hingis purchase CHF74.
        8 Sold merchandise to members CHF900, terms n/30.
        10 Received credit of CHF60 from Hingis for a racquet that was returned.
        11 Purchased tennis shoes from Volker Sports for cash CHF300.
        13 Paid Hingis in full.
        14 Purchased tennis shirts and shorts from Linzey Sportswear CHF700, terms 2/10, n/60.
        15 Received cash refund of CHF90 from Volker Sports for damaged merchandise that was returned.
        17 Paid freight on Linzey Sportswear purchase CHF25.
        18 Sold merchandise to members CHF1,200, terms n/30.
        20 Received CHF500 in cash from members in settlement of their accounts.
        21 Paid Linzey Sportswear in full.
        27 Granted an allowance of CHF25 to members for tennis clothing that did not fit properly.
        30 Received cash payments on account from members CHF630.

The chart of accounts for the tennis shop includes Cash, Accounts Receivable, Inventory, Accounts Payable, Owner’s Capital, Sales Revenue, Sales Returns and Allowances, Purchases, Purchase Returns 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, 2020.
d. Prepare an income statement through gross profit, assuming inventory on hand at April 30 is CHF2,140.