Prepare journal entries for May 2014 to record the following transactions for Gulf Corp. 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). a. May 4: Gulf Corp.'s merchandise was sold to Southgate Inc. for $9,800 cash. The merchandise cost $8,330. b. May 6: Gulf Corp. sold merchandise to Ludwig Inc. for $7,500 under credit terms of 2/30, n/60, FOB shipping point. The merchandise had cost $6,375. c. May 7: Issued a $1,100 credit memorandum to Ludwig Inc. for an allowance on goods sold on May 6. d. May 13: Gulf Corp.'s merchandise was sold to XYZ Corporation for $6,100 under credit terms of n/90, FOB shipping point. The cost of the merchandise was $4,880. e. May 15: Received Ludwig Inc.'s payment of the amount due from the May 6 sale. f. May 22: Received XYZ Corporation's payment of the amount due from the May 13 sale. Please use the 't' and '' buttons to change the number of accounts (if necessary) for each journal entry