Question 3) Waters Hardware Store completed the following merchandising transactions in the month of May. May 1 Purchased merchandise on account from Hauke Wholesale Supply for $12,000, terms 3/10,n/30. 2 Sold merchandise on account for $6,600, terms 1/10,n/30. The cost of the merchandise sold was $4,600. 5 Received credit from Hauke Wholesale Supply for merchandise returned $600. 9 Received payment from customers billed on May 2. 10 Paid Hauke Wholesale Supply the balance owed. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $3,100. 15 Received 8230 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Friedrich Distributors for $2,500, terms 3/10, 1/30. 19 Paid freight on May 17 purchase $250. - 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 25 Purchased merchandise from Fasteners Inc. for $800, terms 3/10, n/30. 27 Paid Friedrich Distributors the balance owed. 29 Made refunds to cash customers for returned merchandise $214. The returned merchandise had cost $99. 31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $830. Instructions: Journalize the transactions using a perpetual inventory system (in color)