Current Attempt in Progress 2 9 10 11 Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of Mary, the ledger of Winters showed Cash of $8.000 and Common Stock of $8,000. May 1 Purchased merchandise on account from Black Wholesale Supply for $8.000, terms 1/10,6/30 Sold merchandise on account $4,400, terms 2/10, 1/30. The cost of the merchandise sold was $3.300. 5 Received credit from Black Wholesale Supply for merchandise returned $ 200. Received collections in full, les discounts, from customers billed on May 2. Paid Black Wholesale Supply in full less discount Purchased supplies for cash 400 Purchased merchandise for cash $ 3.100 Received $ 230 refund for return of poor quality merchandise from supplier on cash purchase Purchased merchandise an account from Wilhelm Distributors for $2.500,torm 2/10, 1/30, FOB shipping point. 19 Pald freighton May 17 purchase $ 250 Sold merchandise for canh $5.500. The merchandise solet had a cost of $4,100 Purchased merchandise on account from Clasps, Inc. for $800, terms 2/10, 1/30, Paid Wilhelm Distributors in full, less discount Made refunds to cash customers for returned merchandise $ 124. The returned merchandise cost $904 Sold merchandise on account for $1.280 terms 30. The cost of the merchandise sold was 5830 12 15 17 24 25 27 29 Winters Income Statement (Partial) For the Month Ended May 31, 2022 Sales 11180 Sales Revenue Less 88 Sales Discounts Sales Revenu 10966 8140 Retained Earnings My 31.2022 2828 Operating pentes 1400 Gross Profit 1028 eTextbook and Media