9 Concord Hardware Store Inc. completed the following merchandising transactions in the month of May 2022. At the beginning of May, Concord's ledger showed Cash of $7,800 and Common Shares of $7,800. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $7,800, terms 2/10, 1/30. 2 Sold merchandise on account for $4,400, terms /30. The cost of the merchandise sold was $3.210. 5 Received credit from Hilton Wholesale Supply for merchandise returned $200. Received collections in full from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $2.880. Received $220 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,400, terms 2/10, 1/30, 19 Paid freight on May 17 purchase $260. 24 Sold merchandise for cash $5,400. The cost of the merchandise sold was $4,070, 25 Purchased merchandise from Toolware Inc. for $780, terms 3/10, 1/30. 27 Paid Northern Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $140. The returned merchandise had cost $90. Sold merchandise on account for $1.500, terms /30. The cost of the merchandise sold was $920 Activate Windows Go to Settings to activa Concord Hardware uses a periodic inventory system and expects areturn rate of 3% on all sales. 15 31 Record the above transactions. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to the nearest whole dollar, eg. 5,775. Ust all deblt entries before credit entries.) Date Account Titles and Explanation Debit Credit > Activate Sosetti