Cullumber Hardware Store completed the following merchandising tramactions in the month af May. At the beginning of May, the lediger of Cullumber showed Cash of $8,100 and Common 5 tock of $7,600. May 1 Purchased merchandise on account from Black Wholesale Supply for $7,200, terms 1/10,n/30. 2 Sold merchandise on account $4,200, terms 2/10,n/30. The cost of the merchandise sold was $3,000. 5 Received credit from Black Wholesale Supply for merchandise returned $300. 9. Received collections in full, less discounts, from customers billed on May 2. 10 Paid Black Wholesale Supply in full, less discount. 11 Purchased supplies for cash $800. 12 Purchased merchandise for cash $3,400. 15 Received $240 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Wilhelm Distributors for $2.300, terms 2/10,n/30, FOB shipping point. 19. Paid treight on May 17 purchase $220 24 Sold merchandise for cash $5,200. The merchandise sold had a cost of $4,000. 25 Purchased merchandise on account from Clasps, Inc, for $700, terms 3/10,/30. 27 Paid Wilheim Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $120. The retumed merchandise cost $10. 31 Sold merchandise on account for $1,340 terms n/30. The cost of the merchandise sold was $810. (To record merchandise retumed) (To record cost of merchandise returned) (To record credit sale) (To record cost of merchandise sold) Question 1 of 1 (to recond cost of merchundise sold) Cullumber Hardware's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 imventory, No. 126 Supplies, No. 201 Accounts Payable, No. 311 Common Stock. Na. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No 414 Sales Discounts, and No. 505 Cost of Goods Sold. (a) Journalize the transactions using a perpetual inventory system. (Credit occount titles ore outomotically indented when amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the account titles and enter " 0 ' for the amounts. Record joumal entries in the order presented in the