Part 1: Journalize the transactions below for May, the last month of the fiscal year. If an amount box does not require an entry, leawe it olank. May 1: Paid rent for May, $5,000 May 3: Purchased merchandise co account from Martin CO0, ferms 2/10, n/30, FOA shipping point, 536,000 . May 4: Paid freight on purchase of May 3,$600. May 7: Received $22,300 cash from Halstad Co. on account. May 10: Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. May 13: Paid for merchandise purchased on May 3. May 15: Paid advertising expense for last haif of May, $11,000. May 16: Received cash from sale of May 6. May 19: Purchased merchandise for cash, $18,700. May 19: Paid $33,450 to Buttons C0. on account. May 20: Pald Korman C0, a cash refund of $5,000 for darnaged merchandise from sale of May 6 . Korman Co, kept the merchandive. May 20: Sold merchandise on account to Crescent Co. terms N/eom, FOB shipping point, $110,000. The cost of the merchandise sold was $70,000. May 21: For the convenience of Crescent Co., puid freight on sale of May 20, $2,300. May 211 Feceived $42,900 cash from Gee Co, on account. May 21: Purchased merchandse on account feom Osterman Co, terms-1/10, N/30. FOB destination, 588,000 May 24 t fteturned damaged merchandse purchased on May 21, receiving a creot memo from the seller for $5,000. May 26: Refunded cash on sales made for cash, 1800 . The defective merchandise was not returned by the customer May 28: Pald sales salaries of $56,000 and office salarios w a an min. May 29: Purchased store supplies for cash, $2,400. May 30: Received cash from sale of May 20 plus froight pald on Mar 21 May 311 Raid for purchase of May 21, less return of Mor 24