May 1 2 5 9 Blossom Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Blossom showed Cash of $4500 and Owner's Capital of $4,500 Purchased merchandise on account from Braun's Wholesale Supply $3,800. terms 2/10, 1/30. Sold merchandise on account $1.500 terms 110./30. The cost of the merchandise sold was $2,000. Received credit from Braun's Wholesale Supply for merchandise returned $200 Received collections in tult, less discounts, from customers billed on sales of $1,500 on May 2. Pald Braun's Wholesale Supply in full less discount, Purchased supplies for cash 5300 Purchased merchandise for cash $1.200 Received refund for poor quality merchandisetrom supplier on cash purchase $100 Purchased merchandise from Valley Distributors 51.100 FOB shipping point terms 2/10 1/30, Pald freight on May 17 purchase $100 24 Sold merchandise for cash $2800. The merchandise sold had a cost of $1,800 25 Purchased merchandise on account from Lumley, Inc $550 FOB destination terms 2/10, 1/30 27 Pald Valley Distributors in fult, less discount 29 Made refunds to cash customers for detective merchandise $60. The returned merchandise had a fair value of $20. Sold merchandise on account 52.000 m n/30. The cost of the merchandise sold was $500 10 11 12 5 17 19 31 Bloom Hardwores chart of accounts induces the following No 101 Cash No 112 Accounts Recevable No 120nventory. No 120 supolles no 201 Account Pablo, No 90: owners Capital Ng 4015s Revenue No 412 Sales Returns and Allowances No 414 Ses Discounts and No 309 Cost of Goods sold Enter the beginning cash and capital balances and post the transactions. (Post entries in the order of journal entries presented in the previous part) Cash Date No. 10 Balance Debit Credit Explanation Ref. Balance 11 31 C 31 31 31 31 31 No. 11 Accounts Receivable Date Explanation Ref. 1 Debit Credit Balance May 1 2 5 9 Blossom Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Blossom showed Cash of $4500 and Owner's Capital of $4,500 Purchased merchandise on account from Braun's Wholesale Supply $3,800. terms 2/10, 1/30. Sold merchandise on account $1.500 terms 110./30. The cost of the merchandise sold was $2,000. Received credit from Braun's Wholesale Supply for merchandise returned $200 Received collections in tult, less discounts, from customers billed on sales of $1,500 on May 2. Pald Braun's Wholesale Supply in full less discount, Purchased supplies for cash 5300 Purchased merchandise for cash $1.200 Received refund for poor quality merchandisetrom supplier on cash purchase $100 Purchased merchandise from Valley Distributors 51.100 FOB shipping point terms 2/10 1/30, Pald freight on May 17 purchase $100 24 Sold merchandise for cash $2800. The merchandise sold had a cost of $1,800 25 Purchased merchandise on account from Lumley, Inc $550 FOB destination terms 2/10, 1/30 27 Pald Valley Distributors in fult, less discount 29 Made refunds to cash customers for detective merchandise $60. The returned merchandise had a fair value of $20. Sold merchandise on account 52.000 m n/30. The cost of the merchandise sold was $500 10 11 12 5 17 19 31 Bloom Hardwores chart of accounts induces the following No 101 Cash No 112 Accounts Recevable No 120nventory. No 120 supolles no 201 Account Pablo, No 90: owners Capital Ng 4015s Revenue No 412 Sales Returns and Allowances No 414 Ses Discounts and No 309 Cost of Goods sold Enter the beginning cash and capital balances and post the transactions. (Post entries in the order of journal entries presented in the previous part) Cash Date No. 10 Balance Debit Credit Explanation Ref. Balance 11 31 C 31 31 31 31 31 No. 11 Accounts Receivable Date Explanation Ref. 1 Debit Credit Balance
