5 9 Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Wildhorse showed Cash of $4,500 and Owner's Capital of $4,500. May 1 Purchased merchandise on account from Braun's Wholesale Supply 54,200, terms 2/10, 1/30. 2 Sold merchandise on account $2,100, terms 1/10, 1/30. The cost of the merchandise sold was $1.300. Received credit from Braun's Wholesale Supply for merchandise returned $350. Received collections in 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 $350. 12 Purchased merchandise for cash $1.400. Received refund for poor quality merchandise from supplier on cash purchase $150. 17 Purchased merchandise from Valley Distributors 51,300, FOB shipping point terms 2/10, 1/30. 19 Paid freight on May 17 purchase $140. 24 Sold merchandise for cash $3,500. The merchandise sold had a cost of $2.100. 25 Purchased merchandise on account from Lumley, Inc. $650, FOB destination terms 2/10,6/30. 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 $20. 31 Sold merchandise on account 51.000 termsn/30. The cost of the merchandise sold was $600 15 Enter the beginning cash and capital balances and post the transactions. (Pest entries in the order of journal entries presented in the previous part) Cash Date No. Balance Debit Credit Explanation Ref. Balance 21 31 21 31 31 31 31 31 > 31 Accounts Receivable Explanation Ref. Date No. 1 Balance Debit Credit 31 31 31 > 31 21 21 31 > Supplies No. 1 = Date Explanation Ref. Debit Credit T. Balance > J1 > J1 > 11 I v 31 31 11 J1 JI X + Min ork Question 5 of 5 6.67/20 Date Explanation Rel Debit Credit Lace 11 Accounts Payable Date Explanation Debit Rel. 11 Credit No. 201 Balance 1: 11 11 11 Owner's Capital Date Explanation No. 301 Het Debit Credit Sales Rere NO ADE Man Shema Question 5 of 5 6.67/20 Date Rel. Debit Credit Balance Explanation Balance Sales Revenue Date Explanation Rel. Debit Credit No. 401 Balance 11 31 1 Sales Returns and Allowances Date Explanation Rel. No. 412 Debit Credit Balance 11 Sales Discounts Date Explanation Rel. Debit Credit No 414 Balance 1: Cast of Goods Sold Date Explanation Ref. Credit No. 505 Balance earch Debit 9 de 5 9 Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Wildhorse showed Cash of $4,500 and Owner's Capital of $4,500. May 1 Purchased merchandise on account from Braun's Wholesale Supply 54,200, terms 2/10, 1/30. 2 Sold merchandise on account $2,100, terms 1/10, 1/30. The cost of the merchandise sold was $1.300. Received credit from Braun's Wholesale Supply for merchandise returned $350. Received collections in 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 $350. 12 Purchased merchandise for cash $1.400. Received refund for poor quality merchandise from supplier on cash purchase $150. 17 Purchased merchandise from Valley Distributors 51,300, FOB shipping point terms 2/10, 1/30. 19 Paid freight on May 17 purchase $140. 24 Sold merchandise for cash $3,500. The merchandise sold had a cost of $2.100. 25 Purchased merchandise on account from Lumley, Inc. $650, FOB destination terms 2/10,6/30. 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 $20. 31 Sold merchandise on account 51.000 termsn/30. The cost of the merchandise sold was $600 15 Enter the beginning cash and capital balances and post the transactions. (Pest entries in the order of journal entries presented in the previous part) Cash Date No. Balance Debit Credit Explanation Ref. Balance 21 31 21 31 31 31 31 31 > 31 Accounts Receivable Explanation Ref. Date No. 1 Balance Debit Credit 31 31 31 > 31 21 21 31 > Supplies No. 1 = Date Explanation Ref. Debit Credit T. Balance > J1 > J1 > 11 I v 31 31 11 J1 JI X + Min ork Question 5 of 5 6.67/20 Date Explanation Rel Debit Credit Lace 11 Accounts Payable Date Explanation Debit Rel. 11 Credit No. 201 Balance 1: 11 11 11 Owner's Capital Date Explanation No. 301 Het Debit Credit Sales Rere NO ADE Man Shema Question 5 of 5 6.67/20 Date Rel. Debit Credit Balance Explanation Balance Sales Revenue Date Explanation Rel. Debit Credit No. 401 Balance 11 31 1 Sales Returns and Allowances Date Explanation Rel. No. 412 Debit Credit Balance 11 Sales Discounts Date Explanation Rel. Debit Credit No 414 Balance 1: Cast of Goods Sold Date Explanation Ref. Credit No. 505 Balance earch Debit 9 de