88% Fri Nov 13 1:44:39 AM o Excel File Edit View Insert Format Tools Data Window Help ... AutoSave OFF ASEO = Accounting_Principles_1-_Exam_3_Review Questions - sp 20.xls - Compatibility Mode a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial v 14 " 2 Wrap Text Accounting X IG 43 - ES 4 V WS Pecic BI dy v Insert Delete Format Sort Ideas Y Merge & Center v Y Conditional Format Cell Formatting as Table Styles Fliter Find Select D13 B A E D T H J L 1 M N Rich Nixon owns an computer parts business called Rich's PC Parts. The following transactions took place during May of the current year. May 1 Purchased merchandise on account from HP Distributors, $15,300. Terms on the sale were 1/10, NEOM. 4 Returned $1,000 of merchandise to HP Distributors for full refund. 7 Sold merchandise on account to KMart Store, $8,500. The merchandise cost $6,000. Terms on the sale were 3/10, n 45. 8 KMart Store returned merchandise sold for $800. The cost of the merchandise was $650. 9 Paid HP Distributors remaining balance. 12 KMart Store paid their bill, taking advantage of the discount 9 10 11 12 Required: Journalize the above transactions in the general journal below using the perpetual inventory method. Comments are not required. 13 14 JOURNAL Page 1 15 Date Description Debit Credit 16 17 18 18 20 21 22 23 24 25 26 27 70 Inventory Valuation Quest Journal Entries Quest Inventory Questions Gross Profit Quest Terms + # E