12:16 E Q Aa DD Instructions Journalize the transactions for the month of June for Kern's Book Warehouse using a perpetual inventory system. P5.2A (LO 2. 3. 5) Financial Statement Renner Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Renner showed Cash of $5,000 and Owner's Capital of $5,000 Journalize, post, and prepare a partial income statement. GLS May Purchased 1 merchandise on account from Braun's Wholesale Supply $4,200, terms 2/10, n/30. 1 5-46 of 1404 12:16 Q Aa Journalize, post, and prepare a partial income statement. GLS May Purchased 1 merchandise on account from Braun's Wholesale Supply $4,200, terms 2/10, n/30. 2 Sold merchandise on account $2,100, terms 1/10,n/30. The cost of the merchandise sold was $1,300. 5 Received credit from Braun's Wholesale Supply for merchandise returned $300 9 Received collections in full, less discounts from customers billed on sales of $2,100 on May 2. 10 Paid Braun's Wholesale Supply in fullless dierunt 1 5-46 of 1404 12:16 E Urru vurur. Q Aa a 10 full, less discounts, from customers billed on sales of $2,100 on May 2 10 Paid Braun's Wholesale Supply in full, less discount. 11 Purchased supplies for cash $400. 12 Purchased merchandise for cash $1,400. 15 Received refund for poor quality merchandise from supplier on cash purchase $150. 17 Purchased merchandise from Valley Distributors $1,300, FOB shipping point, terms 2/10, n/30 19 Paid freight on May 17 purchase $130. 24 Sold merchandise for cash $3,200. The merchandise sold had a cost of $2,000. 1 5-46 of 1404 12:16 iii Q Aa 10 FIILI VITUITUIJL HULLE Valley Distributors $1,300, FOB shipping point, terms 2/10, n/30. 19 Paid freight on May 17 purchase $130. 24 Sold merchandise for cash $3,200. The merchandise sold had a cost of $2,000. 25 Purchased merchandise on account from Lumley, Inc. $620, FOB destination, terms 2/10,n/30 27 Paid Valley Distributors in full, less discount. 29 Made refunds to cash customers for defective merchandise $70. The returned merchandise had a fair value of $30. 31 Sold merchandise on account $1,000 terms n/30. The cost of the merchandise sold was $560. 1 5-46 of 1404