Journalize the transactions using a perpetual inventory system.

Sunland Hardware Store completed the ollowing merchandising transactions in the month of May. At the beginning of May, the ledger of Sunland showed Cash of $5,500 and Owner's Capital of $5,500 May 1 Purchased merchandise on account from Braun's Wholesale Supply $3,800, terms 2/10, n/30. 2 Sold merchandise on account $2,500, terms 1/10, n/30. The cost of the merchandise sold was $1,600. 5 Received credit from Braun's Wholesale Supply for merchandise returned $230 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 Purchased 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 Distributors $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 $2,100 25 Purchased merchandise on account from Lumley, Inc. $600, FOB destination, terms 2/10, n/3o 27 Paid Valley Distributors in full, less discount 29 Made refunds to cash customers for deflective 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 9600 Sunland Hardmare's chart of accounts indudes the following: No. 101 Cash, No. 112 Accounts Recelvable, No. 120 Inventory, No. 126 Suplies, No. 201 Accounts Payatle, No 301 Oner's Capital, No. 401 Sales Revenve No. 412 Sales Returns and Allowances, No 414 Sales Discounts, and No. 505 Cost of Goods Sold