May 13 May 15 May 17 May 19 May 19 Paid $33,450 to Buttons Co. on account. May 20 ww Sold merchandise on account to Korman Co., terms n/15, FOB shipping point, $68,500. The cost of the goods sold was $41,000. Date Transaction May 1 Paid rent for May, $5,000. May 2 May 3 May 4 May 7 May 10 Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Paid freight on purchase of May 3, $600. Received $22,300 cash from Halstad Co. on account. wwwwwwwm Sold merchandise with a list price of $61,500 to customers who used VISA and who redeemed $7,500 of point-of-sale coupons. The cost of the goods sold was $32,000. Paid for merchandise purchased on May 3. Paid advertising expense for last half of May, $11,000. Received cash from sale of May 2. Purchased merchandise for cash, $18,700. www Paid Korman Co, a cash refund of $13,230 for returned merchandise from sale of May 2. The cost of the returned merchandise was $8,000. May 21 Sold merchandise on account to Crescent Co., terms n/eom, FOB shipping point, $110,000. The cost of the goods sold was $70,000. May 21 May 21 May 21 May 24 May 26 May 28 May 29 May 30 May 31 May 31 Paid for purchase of May 21, less return of May 24. For the convenience of Crescent Co., paid freight on sale of May 21, $2,300. Received $42,900 cash from Gee Co. on account. Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88,000. Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000. Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800. Paid sales salaries of $56,000 and office salaries of $29,000. Purchased store supplies for cash, $2,400. Sold merchandise on account to Turner Co., terms n/30, FOB shipping point, $78,750. The cost of the goods sold was $47,000. Received cash from sale of May 21 plus freight.