Crane Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Crane showed Cash of $5,000 and Owner's Capital of $5,000 Purchased merchandise on account from Braun's Wholesale Supply for $4,100, terms 2/10/30 May 1 2 Sold merchandise on account $2,400 terms 1/10, n/30. The cost of the merchandise sold was $1.400 5 Received credit from Braun's Wholesale Supply for merchandise returned $300 9 Received collections in hull, less discounts, from customers billed on May 21 10 Paid Brauri's Wholesale Supply in full, less discount 11 Purchined supplies for cash $300 12 Purchased merchandise for cash $1,500 15 17 19 24 Received $200 refund for return of poor-quality merchandise from supplier on cash purchase Purchased merchandise on account from Valley Distributors for $1,400, terms 2/10, n/30.FOB shipping point. Paid freight on May 17 purchase $100. Sold merchandise for cash $3.300. The merchandise sold had a cost of $2.200 25 Purchased merchandise on account from Lumley, Inc. for $750. terms 2/10, 1/30 27 Paid Valley Distributors in hill, less discount 29 Made refunds to cash customers for returned merchandise $60. The returned merchandisecost $40. 31 Sold merchandise on account for $1,500 term n/30. The cost of the merchandise sold was $500. Crane Hardware's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable. No. 120 inventory No. 126 Supplies No. 201 Accounts Payable, No. 301 Owner's Capital No. 401 Sales Revenue. No. 412 Sales Returns and Allowances. No 414 Sales Discounts, and No 505 Cost of Goods Sold Journalize the transactions using a perpetual inventory system. List all debit entrin before odit entries. Credit account automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem entry is required, select "No Entry" for the account titles and miter O for the amount) Date Account Titles and Explanation (To record credit sale) (To record cost of merchandise sold) Debit Credit (Tecond cost of merchandise scid) (fo record cash sale) (To record cost of merchandise sold) (To record merchandise returned). (To record cost of merchandise returmed) (To record merchandise returned) (To record cost of merchandise returned) (To record credit sale) (To record cost of merchandise sold) Crane Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Crane showed Cash of $5,000 and Owner's Capital of $5,000. May 1 2 Purchased merchandise on account from Braun's Wholesale Supply for $4,100, terms 2/10, n/30. Sold merchandise on account $2,400, terms 1/10, n/30. The cost of the merchandise sold was $1,400. 5 Received credit from Braun's Wholesale Supply for merchandise returned $300. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Braun's Wholesale Supply in full, less discount. 11 Purchased supplies for cash $300. 12 Purchased merchandise for cash $1,500. Received $200 refund for return of poor-quality merchandise from supplier on cash purchase.. 15 1 Purchased merchandise on account from Valley Distributors for $1,400, terms 2/10, n/30,FOB shipping point. 19 Paid freight on May 17 purchase $100. 27 222 24 Sold merchandise for cash $3,300. The merchandise sold had a cost of $2.200. 25 Purchased merchandise on account from Lumley, Inc. for $750, terms 2/10, n/30. 29 31 Paid Valley Distributors in full, less discount. Made refunds to cash customers for returned merchandise $60. The returned merchandisecost $40. Sold merchandise on account for $1.500 terms n/30. The cost of the merchandise sold was $500. Crane Hardware's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory. No. 126 Supplies, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. Journalve the tramactions using a perpetual inventory system List all debit entries before credit entries. Counties automatically indented when amount is entered. Do not indent manually Recond joumal entries in the order presented in the problem.In entry is required select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation (To record credit sale) (To record cost of merchandise sold) Debit Credit ( 100