The following transaction occurred during March $2023,$ for Dress Rehearsal Gift Shop:

March $1$ Owner made $$15,000$ cash investment in the business.

$3$ Purchased $$5,000$ of inventory on account under terms of $\frac{4}{10},\frac{n}{30}.$

$7$ Returned $$1,000$ of defective merchandise purchased on March $3.$

$9$ Paid freight bill of $$250$ for the March $3$ inventory purchase.

$10$ Sold inventory on account for $$5,000.$ Payment terms were $\frac{2}{15},\frac{n}{30}.$

These goods originally cost the company $$2,500.$

$12$ Paid amount owed on the March $3$ inventory.

$16$ Received sales return of $$1,000$ on the March $10$ sale. The original cost is $$500.$

$23$ Received cash from March $10$ customer in full settlement of her debt.

$30$ Dress Rehearsal Gift Shop also incurred the following Operating Expenses and paid with cash:

$\backslash$table$[[$Salary Expense,$$,750],[$Rent Expense,$$,500],[$Utilities Expense,$$,150],[$Supplies Expense,$$,100]]$

Requirements:

Journalize the transactions noted above.

Post the transactions to the T$-$accounts.

Prepare the Trial Balance.

Prepare a Multi$-$Step Income Statement.