PRINTER vrmsaON Problem S-2A (Part Level submission a merch May 1 Purchased merchandise account from Gray's Wholesale M 300, 1/10. n/30 Received credit from account $2,400, terms 1/10, The cost of the merchandise sold was si 500 Received collections Gray's Wholesale supply for retumed 10 Paid in less discounts, from customers billed on sales of $2,400 on May 2. 11 Gray's Wholesale in full, less discount Purchased supplies for cash Purchased merchandise for cash si 400. 15 merchandise from supplier on cash purchase s19o 17 Purchased merchandise from Amland 19 Paid freight on May 17 purchase $180 si 200, FOB shipping polnt, terms 2/10, N30, merchandise cash s3,230. The merchandise sold had a cost of s2,29o 25 Purchased merchandise from Horvath nc $680, FOB destination, terms 2/10, n/30. 27 Paid Amland Di in full, less discount, 29 Made refunds to cash customers for defective merchandi The merchandise had a fair value of s30, 31 Sold merchandise on account si 370, terms n/30. The cost of the merchandise Latona Hardware's chart of accounts includes the following No 101 Cash, No. 112 Accounts Receivable, No. 120 In ventory, No. 126 Supplies, No. 201 Accounts Payable, No No. 401 Sales Revenue, No 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods sold (a) Journalize the transactions using a perpetual inventory system, (Credit account titles are automatically indented when amount is entered. Do mot indent manu Acount Titles and Explanation May 1 Division of 22hn Wilo Sons, Inc. Au Rights Reserved