lay 29 lay 29 lay 31 Accounts Receivable Sales No Entry (To record sale of merchandise) 1y 31 Cost of Goods Sold Inventory No Entry 0 lay 24 Sales No Entry (To record sale of merchandise) xy 24v Iay 25 1ay 27 Accounts Payable Inventory Cash lay 29 Cost of Goods Sold Inventory No Entry (To record cost of goods sold) Inventory Accounts Payable Accounts Payable Inventory Cash Sales Returns and Allowances 3,150 Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round your answers to 0 decimal places, e.g. 5,275 . Record journal entries in the order presented in the problem. List all debit entries before credit entries.) lay 29 lay 29 lay 31 Accounts Receivable Sales No Entry (To record sale of merchandise) 1y 31 Cost of Goods Sold Inventory No Entry 0 lay 24 Sales No Entry (To record sale of merchandise) xy 24v Iay 25 1ay 27 Accounts Payable Inventory Cash lay 29 Cost of Goods Sold Inventory No Entry (To record cost of goods sold) Inventory Accounts Payable Accounts Payable Inventory Cash Sales Returns and Allowances 3,150 Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round your answers to 0 decimal places, e.g. 5,275 . Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Concord Hardware Store Inc. completed the following merchandising transactions in the month of May 2025. At the beginning of N Concord's ledger showed Cash of $11,000 and Common Shares of $11,000. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $11,000, terms 2/10, n/30. 2 Sold merchandise on account for $5,800, terms n/30. The cost of the merchandise sold was $4,900. 5 Received credit from Hilton Wholesale Supply for merchandise returned $390. 9 Received collections in full from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $1,160. 12 Purchased merchandise for cash $3,350. 15 Received $430 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $3,150, terms 2/10,n/30. 19 Paid freight on May 17 purchase $430. 24 Sold merchandise for cash $6,600. The cost of the merchandise sold was $4,900. 25 Purchased merchandise from Toolware Inc. for $1,060, terms 3/10,n/30. 27 Paid Northern Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $146. The returned merchandise was returned to inventory and had cost \$118. 31 Sold merchandise on account for $1,500, terms n/30. The cost of the merchandise sold was $1,000
