Culver Hardware Store Inc. completed the following merchandising transactions in the month of May 2018. At the beginning of May, Culver's ledger showed Cash of $8,000 and Common Shares of $8,000. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $8,000, terms 2/10, n/30. 2 5 9 10 11 12 15 17 19 24 Sold merchandise on account for $4,300, terms 3/10, n/30. The cost of the merchandise sold was $3,060. Received credit from Hilton Wholesale Supply for merchandise returned $300. Received collections in full, less discounts, from customers billed on May 2. Paid Hilton Wholesale Supply in full, less discount. Purchased supplies for cash $890. Purchased merchandise for cash $2,840. Received $200 refund for return of poor-quality merchandise from supplier on cash purchase. Purchased merchandise from Northern Distributors for $2,500, terms 2/10, n/30. Paid freight on May 17 purchase $230. Sold merchandise for cash $5,280. The cost of the merchandise sold was $4,300. Purchased merchandise from Toolware Inc. for $840, terms 3/10, n/30. Paid Northern Distributors in full, less discount. Made refunds to cash customers for returned merchandise $120. The returned merchandise was returned to inventory and had cost $90. Sold merchandise on account for $1,410, terms n/30. The cost of the merchandise sold was $810. 25 27 29 31 Culver Hardware uses a perpetual inventory system. Post the transactions to Taccounts. (Post entries in the order of journal entries presented in the question.) Cash >