3 4 5 GENERAL 6 Date Account Titles and Explanation Debit Credit 7 May 1 Rent Expense- Selling Space 2968 8 Rent Expense-Office Space 742 9 Cash 3710 10 Paid May's rent 11 14 15 234 12 May 2 Accounts Receivable- Cole Sales Revenue 6100 6100 Cost of Goods Sold 4100 Merchandise Inventory 4100 16 Merchandise Sales on credit 17 18 May 2 Sales Return (Defective Merchandise) 175 19 Accounts Receivable 175 20 Mercer Co. Credit 21 22 May 23 3 Accounts Payable (Preston Products) Merchandise Inventory 798 798 24 Return of Merchandise Credit 25 26 May 4 Merchandise Inventory 27 Store Supplies 28 Office Supplies 29 30 Accounts Payable Merchandise Purchase on Credit 37072 574 83 37729 31 B2 May 5 Cash B3 Sales Discount 34 Accounts Receivable 4459 91 4550 35 Mercer Co Payment