Pina Colada Hardware Store Inc. completed the following merchandising transactions in the month of May 2018 . At the beginning of May, Pina Colada's ledger showed Cash of $8,800 and Common Shares of $8,800. May Purchased merchandise on account from Hilton Wholesale Supply for $8,800, terms 2/10,n/30. 2 Sold merchandise on account for $4,400, terms 3/10,n/30. The cost of the merchandise sold was $3,030. 5 Received credit from Hilton Wholesale Supply for merchandise returned $300. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Hilton Wholesale Supply in full, less discount. 11 Purchased supplies for cash $810. 12 Purchased merchandise for cash $2,430. 15 Received $260 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Northern Distributors for $2,300, terms 2/10,n/30. 19 Paid freight on May 17 purchase $270. 24 Sold merchandise for cash $5,570. The cost of the merchandise sold was $4,260. 25 Purchased merchandise from Toolware Inc. for $780, terms 3/10,n/30. 27 Paid Northern Distributors in fuli, less discount. 29 Made refunds to cash customers for returned merchandise $140. The returned merchandise was returned to inventory and had cost $90