Smallville Company was organized on January 1, 2020. It is authorized to issue 103000 shares of $110 par value common stock. At the beginning of April, the ledger of Smallville Company carried the following balances to their respective accounts. Cash-$57000, Merchandise Inventory- $75300, Prepaid Insurance-$5000, 10% Notes Payable-$25500, Equipment-$140000, Accumulated Depreciation: Equipment-$3500, Common Stock-$124000, Paid in capital in excess of par value: Common Stock-$23000, and Retained Earnings-$101300. The following transactions took place in Smallville Company during April of the current year (2020). April 1 - Issued 2600 new shares of common stock for $336000 April 3 - Purchased merchandise of $7900 on account from Prescott Co., terms FOB destination, 3/10, n/30. The appropriate party paid the freight charge of $300. April 4 - Sold merchandise for cash, $89500. The cost of the merchandise sold was $48000. April 5 - Purchased merchandise on account from Stafford Co., $21000, terms FOB shipping point, 3/10, n/30. The appropriate paid the freight charge of $710. April 6 - Returned $560 of merchandise purchased on April 3 from Prescott Co. April 13 - Paid Prescott Co. on account for purchase of April 3. April 15 - Paid Stafford Co. on account for purchase of April 5. April 17 - Purchased merchandise for cash $1400. April 20 - Received refund for poor quality merchandise from supplier on cash purchase $190.

Questions: (1) Post the April journal entries to the ledger. (Remember, the ledger accounts should start with the beginning balances (if any)

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Smallville Company Ledger Cash Date Explanation Ref. Pror Balance (5) Dr Cr Balance is Dr/Cr? Merchandise Inventory Ref. prar Balance ($) Date Explanation Balance is Dr/Cr? Prepaid Insurance Ref. Jor Jor Balance (5) Date Explanation Balance is Dr/Cr? 10% Notes Payable Ref. Pror Balance (5) Date Explanation Balance is Dr/Cr? Equipment Ref. Pror Balance (5) Date Explanation Balance is Dr/Cr? Accumulated Depreciation-Equipment Ref. Dr lor Balance (5) Balance is Dr/Cr? Date Explanation Common Stock Dr Cr Balance (5) Date Explanation Ref. Balance is Dr/Cr? Paid-in capital in excess of par-Common Stock Explanation Ref. Pror Balance (5) Balance is Dr/Cr? Date Retained Earnings Dr lor Balance (5) Date Explanation Ref. Balance is Dr/Cr? Accounts Payable Ref. Pror Balance (5) Cr Date Explanation Balance is Dr/Cr? Sales Revenue Ref. Pror Balance (5) Date Explanation Balance is Dr/Cr? Cost of Goods Sold Date Explanation Ref. Dr Cr Balance (5) Balance is Dr/Cr? it just a small format