E5.3 (LO 2, 3), AP On September 1, Nixa Office Supply had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. Purchased calculators from York Co. at a total cost of $1,980, terms n/30, FOB 6 shipping point. 9 Paid freight of $90 on calculators purchased from York Co. 10 Returned calculators to York Co. for $69 cash (including freight) because they did not meet specifications. 12 Sold calculators costing $598 for $806 to Sura Book Store, on account, terms n/30. 14 Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. The calculator cost $23. 20 Sold 30 calculators costing $690 for $960 on account to Davis Card Shop, on account, terms n/30. Instructions Journalize the September transactions for Nixa Office Supply. Prepare purchase and sales entries. f merchandise on Journalize, post, and prepare a partial income statement. P5.2 (LO 2, 3, 5), AP Financial Statement Renner Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Renner showed Cash of $5,000 and Owner's Capital of $5,000. GLS May Purchased merchandise on account from Braun's Wholesale Supply for $4,200. 1 terms 2/10, n/30. 2 Sold merchandise on account $2,100, terms 1/10, n/30. The cost of the merchandise sold was $1,300. 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 $400. 12 Purchased merchandise for cash $1,400. 15 Received $150 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Valley Distributors for $1,300, terms 2/10, n/30, FOB shipping point. 19 Paid freight on May 17 purchase $130. 24 Sold merchandise for cash $3,200. The merchandise sold had a cost of $2,000. 25 Purchased merchandise on account from Lumley, Inc. for $620, terms 2/10, n/30. 27 Paid Valley Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $70. The returned merchandise cost $30. 31 Sold merchandise on account for $1,000 terms n/30. The cost of the merchandise sold was $560. Renner 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. Instructions a. Journalize the transactions using a perpetual inventory system. b. Enter the beginning cash and capital balances and post the transactions. (Use J1 for the journal reference.) c. Prepare an income statement through gross profit for the month of May 2022. c. Gross profit $2,379 Prepare financial statements and adjusting and closing entries. P5.3 (LO 4, 5), AP Financial Statement Big Box Store is located in midtown Madison