Greenleaf Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Greenleaf showed Cash of $10,000 and Common Stock of $10,000. May 1 Purchased merchandise on account from Ming Wholesale Supply $9,000, terms 2/10, n/30. 2 Sold merchandise on account $4,500, terms 1/10, n/30. The cost of the merchandise sold was $3,100. 5 Received credit from Ming Wholesale Supply for merchandise returned $600. 9 Received collections in full, less discounts, from customers billed on sales of $4,500 on May 2. Paid Ming Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $2,700. 15 Received refund for poor quality merchandise from supplier on cash purchase $230. 17 Purchased merchandise from Longwell Distributors $3,000, FOB shipping point, terms 2/10, n/30. 19 Paid freight on May 17 purchase $250. 24 Sold merchandise for cash $6,200. The merchandise sold had a cost of $4,600. 25 Purchased merchandise from Duffy Inc. $1,000, FOB destination, terms 2/10, n/30. 27 Paid Longwell Distributors in full, less discount. 29 Made refunds to cash customers for defective merchandise $100. The returned merchandise had a scrap value of $20. 31 Sold merchandise on account $2,600, terms n/30. The cost of the merchandise sold was $1,820. Greenleaf'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. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No. 505 Cost of Goods Sold. Instructions Journalize the transactions using a perpetual inventory system.