Question 1: J. Zheng, a former professional tennis star, operates Zhengs Tennis Shop, Ltd. at the Yalong River Resort. At the beginning of the current season, the ledger of Zhengs Tennis Shop showed Cash 2,200, Inventory 1,800, and Share CapitalOrdinary 4,000. The following transactions were completed during April. April. 4. Purchased racquets and balls from Jay-Mac Co. 8760, FOB shipping point, terms 2/10, n/30. 6. Paid freight on purchase from Jay-Mac Co. 240. 7. Purchased Supplies from Jay-Mac Co for cash 3,800. 8. Sold merchandise to members 2,150, terms n/30. The merchandise sold had a cost of 1790. 10. Received credit of 800 from Jay-Mac Co. for a racquet that was returned. 11. Purchased tennis shoes from Li Sports for cash, 5420. 13. Paid Jay-Mac Co. in full. 14. Purchased tennis shirts and shorts from Everett Sportswear 2800, FOB shipping point, terms 3/10, n/60. 15. Received cash refund of 550 from Li Sports for damaged merchandise that was returned. 17. Paid freight on Everett Sportswear purchase 240. 18. Sold merchandise to members 4980, terms n/30. The cost of the merchandise sold was 2520. 20. Received 3600 in cash from members in settlement of their accounts. 21. Paid Everett Sportswear in full. 23. Paid salary to employees for the month 2240. 27. Granted an allowance of 240 to members for tennis clothing that did not fit properly. 30. Received cash payments on account from members, 2820. The chart of accounts for the tennis shop includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share CapitalOrdinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold. REQUIRED Journalize the April transactions using a perpetual inventory system.