Crane Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Cranes' ledger showed Cash of $7,100and Common Stock of $7,100.

May 1Purchased merchandise on account from Black Wholesale Supply for $7,100, terms 1/10, n/30.2Sold merchandise on account for $3,500, terms 2/10, n/30. The cost of the merchandise sold was $2,400.5Received credit from Black Wholesale Supply for merchandise returned $200.9Received collections in full, less discounts, from customers billed on May 2.10Paid Black Wholesale Supply in full, less discount.11Purchased supplies for cash $900.12Purchased merchandise for cash $2,200.15Received $230 refund for return of poor-quality merchandise from supplier on cash purchase.17Purchased merchandise from Wilhelm Distributors for $1,600, terms 2/10, n/30.19Paid freight on May 17 purchase $250.24Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100.25Purchased merchandise from Clasps Inc. for $800, terms 3/10, n/30.27Paid Wilhelm Distributors in full, less discount.29Made refunds to cash customers for returned merchandise $163. The returned merchandise had cost $82.31Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $882.

(a)

Journalize the transactions using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title to record credit sale

enter a debit amount

enter a credit amount

enter an account title to record credit sale

enter a debit amount

enter a credit amount

(To record credit sale)

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

(To record cost of merchandise sold)choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account titleto record the transaction on May 9

enter a debit amount

enter a credit amount

enter an account titleto record the transaction on May 9

enter a debit amount

enter a credit amount

enter an account titleto record the transaction on May 9

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title to record sales

enter a debit amount

enter a credit amount

enter an account title to record sales

enter a debit amount

enter a credit amount

(To record sales)

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

enter an account title to record cost of merchandise sold

enter a debit amount

enter a credit amount

(To record cost of merchandise sold)choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title to record payment for returned merchandise

enter a debit amount

enter a credit amount

enter an account title to record payment for returned merchandise

enter a debit amount

enter a credit amount

(To record payment for returned merchandise)

enter an account title to record cost of goods returned

enter a debit amount

enter a credit amount

enter an account title to record cost of goods returned

enter a debit amount

enter a credit amount

(To record cost of goods returned)

choose a transaction date

enter an account title to record credit sale

enter a debit amount

enter a credit amount

enter an account title to record credit sale

enter a debit amount

enter a credit amount

(To record credit sale)

enter an account title to record cost of goods sold on account

enter a debit amount

enter a credit amount

enter an account title to record cost of goods sold on account

enter a debit amount

enter a credit amount

(To record cost of goods sold on account)