Flounder Hardware Store Inc. completed the following merchandising transactions in the month of May 2018. At the beginning of May, Flounder's ledger showed Cash of $7,600 and Common Shares of $7,600. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $7,600, terms 2/10,n/30. 2 Sold merchandise on account for $4,100, terms 3/10,n/30. The cost of the merchandise sold was $3,500. 5 Received credit from Hilton Wholesale Supply for merchandise returned $300. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $840. 12 Purchased merchandise for cash $2,840. 15 Received $250 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,300, terms 2/10,n/30. 19 Paid freight on May 17 purchase $220. 24 Sold merchandise for cash $5,620. The cost of the merchandise sold was $4,400. 25 Purchased merchandise from Toolware Inc. for $790, terms 3/10, n/30. 27 Paid Northern Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $120. The returned merchandise was returned to inventory and had cost $80. 31 Sold merchandise on account for $1,200, terms n/30. The cost of the merchandise sold was $820. Flounder Hardware uses a perpetual inventory system. Post the transactions to Taccounts. (Post entries in the order of journal entries presented in the question.) Cash 5/1 Bal. 7600 5/10 7154 5/9 3977 5/11 840 5/15 250 5/12 2840 5/24 5620 5/19 220 5/27 2254 5/31 Bal. 4139 17447 17447 Accounts Receivable 5/2 4100 5/9 4100 5/31 1200 5/29 1200 5300 5300 Inventory 5/1 7600 5/2 3500 5/12 2840 5/5 300 5/17 2300 5/10 146 5/25 790 5/15 250 cia cran 5/29 80 5/24 4400 5/27 46 5/31 820 13610 5/31 Bal. 13610 Supplies 5/11 840 5/31 840 840 5/31 Bal. 840 Accounts Payable 5/5 300 5/1 7600 5/10 7300 5/17 2300 5/27 2300 5/25 790 5/31 Bal. 10690 10690 Common Shares 5/31 Bal. 7600 5/1 Bal. 7600 7600 7600 Sales 5/31 Bal. 10920 5/2 4100 5/24 5620 5/24 5620 5/31 1200 10920 10920 Sales Returns and Allowances 5/29 120 5/31 Bal. 120 120 120 Sales Discounts 5/9 123 5/31 Bal. 123 123 123 Cost of Goods Sold 5/2 3500 5/29 80 5/24 5/24 4400 5/31 Bal. 8640 5/31 820 8720 8720