Prepare journal entries for May 2014 to record the following transactions for Allarco Inc. Assume a perpetual inventory system. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan).

1. May 4: Allarco Inc.'s merchandise was sold to Weber Inc. for $8,500 under credit terms of 2/30, n/60, FOB shipping point. The cost of the merchandise was $6,800.
2. May 5: Weber Inc. requested a price reduction on the May 4 sale because the merchandise did not meet specifications. Sent Weber Inc. a credit memorandum for $2,600 to resolve the issue.
3. May 6: Received the balance due from Weber Inc. for the sale dated May 4.
4. May 12: Allarco Inc. sold merchandise that cost $6,880 to Gulf Corp. for $8,600 under credit terms of 2/15, n/60, FOB shipping point.
5. May 14: Allarco Inc. sold merchandise to Ludwig Inc. that cost $7,055 for $8,300 cash.
6. May 30: Received Gulf Corp.'s payment of the amount due from the May 12 sale.

Please use the '+' and '-' buttons to change the number of accounts (if necessary) for each journal entry.