Oriole Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May. Orioles ledger showed Cash of $7,400 and Common Stock of $7,400. May 1 Purchased merchandise on account from Black Wholesale Supply for $7,400, terms 1/10,n/30. 2 Sold merchandise on account for $3,800, terms 2/10, 1/30. The cost of the merchandise sold was $2,700. Received credit from Black Wholesale Supply for merchandise returned $200. Received collections in full, less discounts, from customers billed on May 2. Pald Black Wholesale Supply in full, less discount. Purchased supplies for cash $900. Purchased merchandise for cash $2.500 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase. Purchased merchandise from Wilhelm Distributors for $1,900, terms 2/10,n/30. Pald freight on May 17 purchase $250. Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. Purchased merchandise from Clasps Inc. for $800, terms 3/10, 1/30. Pald Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $88. The returned merchandise had cost $88. Sold merchandise on account for $1.250, terms n/30. The cost of the merchandise sold was $776. 5 9 10 11 12 15 17 19 24 25 27 29 31 Date Account Titles and Explanation Debit Credit V (To record credit sale) (To record cost of merchandise sold) > (To record sales) (To record cost of merchandise sold)