Marigold Hardware Store inci completed the folowing merchandising transactions in the month of May 2022 . At the beginning of May, Marlgold's ledger showed Cash of \$8,200 and Common Shares of \$8,200. May 1 Purchased merchandise on account from Hitton Wholesale 5 upply for $8,200, terms 2/10,/30. 2. Sold merchandise on account for $4,400, terms i/30. The cost of the merchandise sold was $3,500. 5 Recelved credit from Hilton Wholesale Supply for merchandise returned $250. 9 Received collections in full from customers billed on May 2. 10 Paid Haiton Wholesale Supply in fulli, tess discount. 11 Purchased supplies for cash5880. 12 Purchased merchandise for cash $2.650. 15 Received $290 refund for ceturn of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for 52.450, terms 2/10,n/30. 19 Paid freight on May 17 purchase $290. 24 Sold merchandise for cash $5,200. The cost of the merchandise sold was $4,100 25 Purchased merchandise from Toolware Inc for $780, terms 3/10,n/30. 27 Paid tiorthern Distributors in fulli, less discount. 29 Made refunds to cash customers for returned merchandist $118. The returned merchandise was returned to inventory and had cont $90. 31. Sold merchandive on account for $1,200, terms N30. The cost of the merchandise sold was 5880 . Marigold Hardware uses a perpetual inventory system and expects a return rate of 3x on all salet. Marigold Hardware Store Inc completed the following merchandising transactions in the month of May 2022. At the beginning May, Marigold's ledger showed Cash of $8,200 and Common Shares of $8,200. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $8,200, terms 2/10,/30. 2 Sold merchandise on account for $4,400, terms n/30. The cost of the merchandise sold was $3,500. 5 Received credit from Hilton Wholesale Supply for merchandise returned $250. 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 $880. 12. Purchased merchandise for cash $2,650. 15 Received $290 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,450, terms 2/10,n/30. 19 Paid freight on May 17 purchase $290. 24 Sold merchandise for cash $5,200. The cost of the merchandise sold was $4,100. 25 Purchased merchandise from Toolware inc, for $780, terms 3/10,n/30. 27 Paid Northern Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $118. The returned merchandise was returned to inventory and had cost $90. 31 Sold merchandise on account for $1,200, terms n/30. The cost of the merchandise sold was $880. Marigold Hardware uses a perpetual inventory system and expects a return rate of 3% on all sales. 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 May 11 Cost of Goods Sold (Sale of merchandise) May 24% [CostolGoods Sold 4100 Cash (Cost of goods sold recorded) Accounts Rayable Accounts Payatie Cash inventory 5ales Returns and Allowances (Return of merchandise) Cost of Goods Sold (Return of merchandise, assuming goods are resaleable and returned to inventory) Accounts fieceivatifis