Carla Vista Hardware Store completed the following merchandising transactions in the month of May. Caria Vista follows ASPE and uses the earning approach. May 1 Purchased merchandise on account from Braur's Wholesale Supply for $4,300, terms 2/10,/30. 2. Sold merchandise on account $2,600, terms 1/10,/30. The cost of the merchandise sold was $1,450. 5 Received credit from Braun's Wholesale Supply for merchandise returned $200. 9 Recelved collections in fulli, less discounts, fram customers billed on May 2. 10 Paid Braun's Wholesale Supply ia fulti, less discount. 11 Purchased supplies for cash $380. 12 Purchased merchandise for cash $1,200 15 Received $170 refund for return of poor-quality merchandise from supplier on cash purchase. 17. Purchased merchandise on account from Valley Distributors for $1,800, terins 2/10, n/30, FOB shipping point. 19 Pald freight on May 17 purchase $170. 24 Sold merchandise for cach $3,700. The merchandise sold had a cost of $2,100. 25 Purchased merchandise on account from Lumley inc for $720, terms 2/10,n/30. 27 Paid Valley Distributors in full, less discount. 29 Made refunds to cash customers for retumed merchand ise $90. The retumed merchandise cost $30. 31 Sold merchandise on account for $1.800, terms w/30. The cost of the merchandise sold was $620