May 1 Purchased merchandise on account from Black Wholesale Supply for $8,800, terms 1/10,n/30. 2 Sold merchandise on account $5,000, terms 2/10,n/30. The cost of the merchandise sold was $3,200. 5 Received credit from Black Wholesale Supplytor merchandise returned $200. 9 Received collections in full, less discounts, from customers billd on May 2. 10 Paid Black Wholesale Supply in full, less discount. . 11 Purchased supplies for cash $800. 12 Purchased merchandise for cash $3,400. 15 Received $210 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Wilhelm Distributors for $2,700, terms 2/10,n/30, FOB shipping point. 19. Paid freight on May 17 purchase $260. 24 Sold merchandise for cash $5,700. The merchandise sold had a cost of $4,400. 25 Purchased merchardise on account from Clasps, Inc. for $900, terms 3/10,n/30. 27 Paid Wilhelm Distributors in full, less discount. 29 Made refunds to cash customers for returned mrchandise $128. The returned merchandise cost $8. 31 Sold merchandise on account for $1,200 terms n/30. The cost of the merchandise sold was $830. Less : : Sales Returns and Allowances Sales Discounts Cost of Goods Sold GrossProfit May 1 Purchased merchandise on account from Black Wholesale Supply for $8,800, terms 1/10,n/30. 2 Sold merchandise on account $5,000, terms 2/10,n/30. The cost of the merchandise sold was $3,200. 5 Received credit from Black Wholesale Supplytor merchandise returned $200. 9 Received collections in full, less discounts, from customers billd on May 2. 10 Paid Black Wholesale Supply in full, less discount. . 11 Purchased supplies for cash $800. 12 Purchased merchandise for cash $3,400. 15 Received $210 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Wilhelm Distributors for $2,700, terms 2/10,n/30, FOB shipping point. 19. Paid freight on May 17 purchase $260. 24 Sold merchandise for cash $5,700. The merchandise sold had a cost of $4,400. 25 Purchased merchardise on account from Clasps, Inc. for $900, terms 3/10,n/30. 27 Paid Wilhelm Distributors in full, less discount. 29 Made refunds to cash customers for returned mrchandise $128. The returned merchandise cost $8. 31 Sold merchandise on account for $1,200 terms n/30. The cost of the merchandise sold was $830. Less : : Sales Returns and Allowances Sales Discounts Cost of Goods Sold GrossProfit