Enter the beginning cash and capital balances and post the transactions.

Sunland Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger ofSunland showed Cash of $5,300 and Owner's Capital of $5,500 May 1 Rrchased merchandise on account from Brauns wholesale Supply $3,800, terms 2/10, . 2 Sold merchandise en account S2.500, terms 1/10. n/30The cost ef the merchandise sold was $1,600. 5 Recelved credit from braun's Wholesale Supply for merchandise returned $250 9 Received collections in full, less discounts, from customers billed on sales of $2,500 on May 2 10 Paid Braun's Wholesale Supply in full, less discount 11 Rrchased supplies for cash $300. 12 Purchased merchandise for cash $1,300. 15 Received refund for poor quality merchandise from supplier on cash purchase $200. 17 Purchased merchandise from valley Distributers $1,200, FOB shipping point, terms 2/10, n/30 19 Paid freight on May 17 purchase $140 24 Sold merchandise for cash $3,300. The merchandise sold had a cost of $2,00 25 Purchased merchandise on account from Lumley, Inc. $600, FOB destination, berms 2/10, n/3 27 Paid Valey Distributers in full, less discount 29 Made refunds to cash customers for delective merchandise $70. The returned merchandise had a fair value of $20. 31 Sold merchandise on account $1,500, terms n/30. The cost of the merchandise sold was s600. Sunland Hardware's chart of accounts incdludes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventery, No. 126 Supplies, No. 201 Accounts Payable, Na. 301 Owner's Capital, No. 401 Sales feverve No. 412 Sales Returns and Allowances, No. 414 Sales Discourts, and No. 505 Cost of doods Sold Enter the beginning cash and capital balances and post the transactions. (Post eni journal entries presented in the previous part.) No. 101 Cash Date Explanation Ref. Debit Credit Balance Balance JI Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance 01 Inventory No. 120 Date Explanation Ref. Debit Credit Balance No. 126 Supplies Date Explanation Ref. Debit Credit Balance 01 Accounts Payable No. 201 DateExplanation Ref. Debit Credit Balance JI JI Owner's Capital No. 301 Date Explanation Ref. Debit Credit Balance Balance Sales Revenue No. 401 Date Explanation Ref. Debit Credit Balance 31 Sales Returns and Allowanoes No. 412 Date Explanation Ref.Debit Credit Balance 01 Sales Discounts No. 414 Date Explanation Ref. Debit Credit Balance Cost of Goods Sold No. 505 Date Explanation Ref. Debit Credit Balance JI JI 01 Sunland Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger ofSunland showed Cash of $5,300 and Owner's Capital of $5,500 May 1 Rrchased merchandise on account from Brauns wholesale Supply $3,800, terms 2/10, . 2 Sold merchandise en account S2.500, terms 1/10. n/30The cost ef the merchandise sold was $1,600. 5 Recelved credit from braun's Wholesale Supply for merchandise returned $250 9 Received collections in full, less discounts, from customers billed on sales of $2,500 on May 2 10 Paid Braun's Wholesale Supply in full, less discount 11 Rrchased supplies for cash $300. 12 Purchased merchandise for cash $1,300. 15 Received refund for poor quality merchandise from supplier on cash purchase $200. 17 Purchased merchandise from valley Distributers $1,200, FOB shipping point, terms 2/10, n/30 19 Paid freight on May 17 purchase $140 24 Sold merchandise for cash $3,300. The merchandise sold had a cost of $2,00 25 Purchased merchandise on account from Lumley, Inc. $600, FOB destination, berms 2/10, n/3 27 Paid Valey Distributers in full, less discount 29 Made refunds to cash customers for delective merchandise $70. The returned merchandise had a fair value of $20. 31 Sold merchandise on account $1,500, terms n/30. The cost of the merchandise sold was s600. Sunland Hardware's chart of accounts incdludes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventery, No. 126 Supplies, No. 201 Accounts Payable, Na. 301 Owner's Capital, No. 401 Sales feverve No. 412 Sales Returns and Allowances, No. 414 Sales Discourts, and No. 505 Cost of doods Sold Enter the beginning cash and capital balances and post the transactions. (Post eni journal entries presented in the previous part.) No. 101 Cash Date Explanation Ref. Debit Credit Balance Balance JI Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance 01 Inventory No. 120 Date Explanation Ref. Debit Credit Balance No. 126 Supplies Date Explanation Ref. Debit Credit Balance 01 Accounts Payable No. 201 DateExplanation Ref. Debit Credit Balance JI JI Owner's Capital No. 301 Date Explanation Ref. Debit Credit Balance Balance Sales Revenue No. 401 Date Explanation Ref. Debit Credit Balance 31 Sales Returns and Allowanoes No. 412 Date Explanation Ref.Debit Credit Balance 01 Sales Discounts No. 414 Date Explanation Ref. Debit Credit Balance Cost of Goods Sold No. 505 Date Explanation Ref. Debit Credit Balance JI JI 01