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Ayayai Hardware Store lnc. completed the following merchandising transactions in the month of May 2025. At the beginning of May, Ayayai's ledger showed Cash of

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Ayayai Hardware Store lnc. completed the following merchandising transactions in the month of May 2025. At the beginning of May, Ayayai's ledger showed Cash of $6,400 and Common Shares of $6,400. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $6,400, terms 2/10,n/30. 2 Sold merchandise on account for $3,500, terms n/30. The cost of the merchandise sold was $2,600. 5 Received credit from Hilton Wholesale Supply for merchandise returned $160. 9 Received collections in full from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $700. 12 Purchased merchandise for cash $2,200. 15 Received $200 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,000, term5 2/10, n/30. 19 Paid freight on May 17 purchase $200. 24 Sold merchandise for cash $4,300. The cost of the merchandise sold was $3,200. 25 Purchased merchandise from Toolware Inc, for $600, terms 3/10,n/30. 27 Paid Northern Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $100. The returned merchandise was returned to inventory and had cost $72. 31 Sold merchandise on account for $1.000, terms n/30. The cost of the merchandise sold was $700. Ayayai Hardware Store lnc. completed the following merchandising transactions in the month of May 2025. At the beginning of May, Ayayai's ledger showed Cash of $6,400 and Common Shares of $6,400. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $6,400, terms 2/10,n/30. 2 Sold merchandise on account for $3,500, terms n/30. The cost of the merchandise sold was $2,600. 5 Received credit from Hilton Wholesale Supply for merchandise returned $160. 9 Received collections in full from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $700. 12 Purchased merchandise for cash $2,200. 15 Received $200 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,000, term5 2/10, n/30. 19 Paid freight on May 17 purchase $200. 24 Sold merchandise for cash $4,300. The cost of the merchandise sold was $3,200. 25 Purchased merchandise from Toolware Inc, for $600, terms 3/10,n/30. 27 Paid Northern Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $100. The returned merchandise was returned to inventory and had cost $72. 31 Sold merchandise on account for $1.000, terms n/30. The cost of the merchandise sold was $700

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