Homework chap 5 Name Bill's Music sells CDs. They have the following transactions for May. 5/1 Purchase 1000 CDs on account (2/10 n30 FOB Shipping) at $3 each and put into inventory 5/2 Freight on the 5/1 purchase was $250. Pay in cash 5/5 Sell 100 CDs for $1,200 - on account. CDs sold cost $300. Terms are 1/10 n30 5/7 Return 50 of the CDs purchased on 5/1 - defective ($3 each) 5/8 Pay for the CDs (not the freight) purchased on 5/1 - net of returns/discount 5/9 Receive Payment for sale on 5/5 5/29 Pay salaries of $500 Inventory 5/30 Buy 100 more CDs at $4 each - cash 5/31 Sell 200 CDs for $2,500 - all cash. CDs sold cost $600. What is the ending balance of the Inventory Account Use the space below to make all entries for the month. ACCOUN DEBIT CREDIT 1-May 2-May 5-May 7-May 8-May 9-May 29-May 30-May 31-May