May 1 | | Purchased merchandise on account from Black Wholesale Supply for $7,900, terms 1/10, n/30. |
2 | | Sold merchandise on account for $4,800, terms 2/10, n/30. The cost of the merchandise sold was $3,600. |
5 | | Received credit from Black Wholesale Supply for merchandise returned $300. |
9 | | Received collections in full, less discounts, from customers billed on May 2. |
10 | | Paid Black Wholesale Supply in full, less discount. |
11 | | Purchased supplies for cash $1,260. |
12 | | Purchased merchandise for cash $4,340. |
15 | | Received $322 refund for return of poor-quality merchandise from supplier on cash purchase. |
17 | | Purchased merchandise from Wilhelm Distributors for $2,750, terms 2/10, n/30. |
19 | | Paid freight on May 17 purchase $350. |
24 | | Sold merchandise for cash $7,700. The cost of the merchandise sold was $5,740. |
25 | | Purchased merchandise from Clasps Inc. for $1,120, terms 3/10, n/30. |
27 | | Paid Wilhelm Distributors in full, less discount. |
29 | | Made refunds to cash customers for returned merchandise $135. The returned merchandise had cost $90. |
31 | | Sold merchandise on account for $1,792, terms n/30. The cost of the merchandise sold was $1,162. |