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Problem 5-01A Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winterss' ledger showed Cash of $8,000 and Common Stock of $8,000. May Purchased merchandise on account from Black Wholesale Supply for $8,000, terms 1/10, in/30. 2 Sold merchandise on account for $4,400, terms 2/10, n/30. The cost of the merchandise sold was $3,300. 5 Received credit from Black Wholesale Supply for merchandise returned $200. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Black Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $3,100. 15 Received $230 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $2,500, terms 2/10, n/30. 19 Paid freight on May 17 purchase $250. 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, 1/30. 27 Paid Wilhelm Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $124. The returned merchandise had cost $90. 31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $830. Journalize the transactions using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation choose a transaction enter an account title date enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction enter an account title date to record credit sale enter a debit amount enter a credit amount enter an account title to record credit sale enter a debit amount enter a credit amount (To record credit sale) enter an account title to record cost of merchandise sold enter a debit amount enter a credit amount enter an account title to record cost of merchandise sold enter a debit amount enter a credit amount (To record cost of merchandise sold) choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter a debit amount enter a credit amount choose a transaction date enter an account title to record the transaction on May 9 enter an account title to record the transaction on May 9 enter a debit amount enter a credit amount enter an account title to record the transaction on May 9 enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction enter an account title date enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction enter an account title date to record sales enter a debit amount enter a credit amount enter an account title to record sales enter a debit amount enter a credit amount (To record sales) enter an account title to record cost of merchandise sold enter a debit amount enter a credit amount enter an account title to record cost of merchandise sold enter a debit amount enter a credit amount (To record cost of merchandise sold) choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction enter an account title date enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction enter an account title date to record payment for returned merchandise enter a debit amount enter a credit amount enter an account title to record payment for returned merchandise enter a debit amount enter a credit amount (To record payment for returned merchandise) enter an account title to record cost of goods returned enter a debit amount enter a credit amount enter an account title to record cost of goods returned enter a debit amount enter a credit amount (To record cost of goods returned) choose a transaction enter an account title date to record credit sale enter a debit amount enter a credit amount enter an account title to record credit sale enter a debit amount enter a credit amount enter a debit amount choose a transaction enter a credit amount (To record credit sale) enter an account title to record cost of enter a debit amount enter a credit amount goods sold on account enter an account title to record cost of enter a debit amount enter a credit amount goods sold on account (To record cost of goods sold on account) Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of journal entries posted in part (a). Round answers to o decimal places, e.g. 5,275.) Cash choose a transaction date enter a debit amount choose a transaction enter a credit amount choose a transaction date date date choose a transaction date enter a debit amount choose a transaction enter a credit amount choose a transaction date enter a debit amount choose a transaction enter a credit amount date choose a transaction date enter a debit amount choose a transaction enter a credit amount choose a transaction date enter a debit amount choose a transaction enter a credit amount date choose the end date of the accounting period choose the end date enter a debit balance of the accounting period enter a credit balance choose a transaction date Accounts Receivable enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction enter a credit amount date choose the end date of the accounting enter a credit balance enter a debit balance choose the end date of the accounting period period choose a transaction date Common Stock enter a debit amount choose a transaction enter a credit amount choose the end date of the accounting period choose the end date enter a debit balance of the accounting period enter a credit balance choose a transaction date Sales Revenue enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction enter a credit amount date choose the end date of the accounting period choose the end date enter a debit balance of the accounting period enter a credit balance choose a transaction date Sales Returns and Allowances enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period choose the end date enter a debit balance of the accounting period enter a credit balance choose a transaction date Sales Discounts enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period choose the end date enter a debit balance of the accounting period enter a credit balance choose a transaction date Cost of Goods Sold enter a debit amount choose a transaction enter a credit amount date choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Prepare an income statement through gross profit for the month of May 2022. (Round answers to 0 decimal places, e.g. 5,275.) WINTERS HARDWARE STORE Income Statement (Partial) choose the accounting period select an opening name for section one enter an income statement item $enter a dollar amount select between addtion and deduction enter an income statement item $enter a dollar amount enter an income statement item enter a dollar amount enter a subtotal of the two previous amounts select a closing name for section one enter a total amount for section one enter an income statement item enter a dollar amount select the summarizing line for this part Senter a total amount for this part Calculate the profit margin and the gross profit rate. (Assume operating expenses were $1,400.) (Round answers to 1 decimal place, e.g. 15.5%.) Profit margin Gross profit rate enter percentages rounded to 1 decimal place enter percentages rounded to 1 decimal place