mprehensive Problem 2, Part 1 ructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. ctions May 1 Paid rent for May, $5,000. 3 4 6 Paid freight on purchase of May 3, $600. Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000. 7 Received $22,300 cash from Halstad Co. on account. 10 Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. 13 Paid for merchandise purchased on May 3. 15 Paid advertising expense for last half of May, $11,000. 16 Received cash from sale of May 6. 19 Purchased merchandise for cash, $18,700. 19 Paid $33,450 to Buttons Co. on account.