Smallville Company was organized on January 1, 2020. It is authorized to issue 109000 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-$55000, Merchandise Inventory- $75800, Prepaid Insurance-$4800, 10% Notes Payable-$25500, Equipment-$144000, Accumulated Depreciation: Equipment-$3000, Common Stock-$128000, Paid in capital in excess of par value: Common Stock-$24000, and Retained Earnings-$99100.

The following transactions took place in Smallville Company during April of the current year (2020).

April 1 - Issued 2400 new shares of common stock for $337000

April 3 - Purchased merchandise of $7900 on account from Prescott Co., terms FOB destination, 2/10, n/30. The appropriate party paid the freight charge of $290.

April 4 - Sold merchandise for cash, $81500. The cost of the merchandise sold was $48000.

April 5 - Purchased merchandise on account from Stafford Co., $21000, terms FOB shipping point, 2/10, n/30. The appropriate paid the freight charge of $680.

April 6 - Returned $600 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 $1600.

April 20 - Received refund for poor quality merchandise from supplier on cash purchase $190.

1) Journalize the transactions for the month of April. (Assume that the company follows perpetual inventory system).

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

(3) Prepare a trial balance on April 30, 2020.