Please me correct

Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters' ledger showed Cash of $8,800 and Common Stock of $8,800. 9 11 May 1 Purchased merchandise on account from Black Wholesale Supply for $7.700, terms 1/10,n/30. 2 Sold merchandise on account for $4,300, terms 2/10, 1/30. The cost of the merchandise sold was $3,225. 5 Received credit from Black Wholesale Supply for merchandise returned $600. Received collections in full, less discounts, from customers billed on May 2. 10 Paid Black Wholesale Supply in full, less discount Purchased supplies for cash $990. Purchased merchandise for cash $3,410, 15 Received $253 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $2,150 terms 2/10, 1/30. Paid freight on May 17 purchase $275. Sold merchandise for cash $6,050. The cost of the merchandise sold was $4,510. 25 Purchased merchandise from Clasps Inc. for $880, terms 3/10, 1/30 Paid Wilhelm Distributors in full, less discount 12 19 24 27 29 Made refunds to cash customers for returned merchandise $145. The returned merchandise had cost 596, 31 Sold merchandise on account for $1,408, terms 1/30. The cost of the merchandise sold was $913. Your answer is partially correct Journalize the transactions using a perpetual inventory system. (If no entry is required, select "No Entry for the account titles and enter 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.) Date Account Titles and Explanation Debit Credit Vay 1 : Inventory 7700 Accounts Payable 7700 May 2 Account Receive 4300 Sales Revenue 6300 (To record credit sale) Cost of Goods Sold 3293 inventory (To record cost of merchandise sold) Hays : Accounts Payable 600 00 ny 4214 Sescounts 96 Accounts Receivable 400 May 10 Accounts Payable 7700 Inventory 77 7623 May 11 Supplies 990 coin 990 May 12 Inventory 1410 Cam 340 May is Cash 250 Inventory 25 May 17 : Inventory 2150 Accounts Payable 2150 May 19 Inventory 275 Cash 275 May 24 Cash 6050 Sales Revenue 6050 (To record sales) Costol Goods Sold 4510 Inventory 4510 (To record cost of merchandise sold) May 25 Inventory 300 Accounts Payable May 27 : Accounts Payable 2150 Inventory May 29 Sales Returns and Allowances 145 145 (To record payment for returned merchandise) rentary Cash 96 (To record cost of goods returned) May 31 accounts Receivable 1400 II TIL Sales Rever (To record credit sale) Cottor Coded mentor (To record cost of goods sold on account) Your answer is partially correct 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 0 decimal places, e.g. 5,275) Cash 5/1 8800 5/10 7623 * 5/9 4214 5/11 990 5/15 253 5/12 3410 5/24 3050 5/19 . 275 S/27 . 2107 5/29 5/31 Bal. 4767 Accounts Receivable 5/2 1300 5/9 900 5:31 5/31 Bal. 1408 Inventory 5/1 7700 5/2 3225 5/12 3410 5/5 600 5/17 2150 5/10 77 5/19 275 5/15 253 5/25 5/24 4510 5/29 96 5/27 43 5/31 913 5/31 Bal 4890 Supplies 5/11 990 11 5/31 Bal 9.90 Accounts Payable Accounts Payable 5/5 600 5/1 7700 5/10 7700 5/17 2150 5/27 2150 5/25 4 880 5/31 Bal 4 880 Common Stock 5/1 4 5/1 Bal. 8800 Sales Revenue 5/2 4300 5/24 6050 5/31 1408 5/31 Bal. 11758 Sales Returns and Allowances Sales Returns and Allowances 5/29 145 5/31 Bal. 145 Sales Discounts 5/9 86 5/31 Bal. 86 Cost of Goods Sold 5/2 3225 5/29 96 5/24 4510 5/31 913 5/31 Bal. 8552 Your answer is partially correct. Prepare an income statement through gross profit for the month of May 2017. (Round answers to 0 decimal places, eg 5,275.) WINTERS HARDWARE STORE Income Statement (Partial) For the Month Ended May 31, 2017 : Net Sales Sales Revenu 11750 Less Sales Sales Alle 1451 Net Sales 11527 55 Gross Profit 2023 Your answer is correct. Calculate the profit margin and the gross profit rate (Assume operating expenses were $1,540) (Round answers to 1 decimal place, e.3. 15.5%) Profit margin 124 % Gross proftrate 258 %