Problem 5-1A (Part Level Submission) Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters' ledger showed Cash of $8,000 and Common Stock of $8,000 May 1 Purchased merchandise on account from Black Wholesale Supply for $8,000, terms 1/10, n/30. 5 9 10 11 12 15 17 19 24 25 27 29 31 Sold merchandise on account for $4,400, terms 2/10, n/30The cost ofthe merchandise sold was $3,300 Received credit from Black Wholesale Supply for merchandise returned $200 Received collections in full, less discounts, from customers billed on May 2. Paid Black Wholesale Supply in full, less discount. Purchased supplies for cash $900. Purchased merchandise for cash $3,100 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase Purchased merchandise from Wilhelm Distributors for $2,500, terms 2/10, n/30 Paid freight on May 17 purchase $250 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100 Purchased merchandise from Clasps Inc. for $800, terms 3/10, n/30. Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $124. The returned merchandise had cost $90 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $830