Renner Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Renner showed Cash of $4,650and Owners Capital of $4,650.

May 1	Purchased merchandise on account from Braun's Wholesale Supply $4,500, terms2/10, n/30.
2	Sold merchandise on account $2,300, terms1/10, n/30. The cost of the merchandise sold was $1,030.
5	Received credit from Braun's Wholesale Supply for merchandise returned $200.
9	Received collections in full, less discounts, from customers billed on sales of $2,300 on May 2.
10	Paid Braun's Wholesale Supply in full, less discount.
11	Purchased supplies for cash $350.
12	Purchased merchandise for cash $1,400.
15	Received refund for poor quality merchandise from supplier on cash purchase $180.
17	Purchased merchandise from Valley Distributors $1,200, FOB shipping point, terms2/10, n/30.
19	Paid freight on May 17 purchase $140.
24	Sold merchandise for cash $3,290. The merchandise sold had a cost of $1,950.
25	Purchased merchandise from Lumley, Inc. $740, FOB destination, terms 2/10, n/30.
27	Paid Valley Distributors in full, less discount.
29	Made refunds to cash customers for defective merchandise $70. The returned merchandise had a fair value of $30.
31	Sold merchandise on account $1,490, terms n/30. The cost of the merchandise sold was $590.

Renner Hardwares chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 126 Supplies, No. 201 Accounts Payable, No. 301 Owners Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold.

Journalize the transactions using a perpetual inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record credit sale)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record cost of merchandise sold)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 9
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record cash sale)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record cost of merchandise sold)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record merchandise returned)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record cost of merchandise returned)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record credit sale)
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31
(To record cost of merchandise sold)

SHOW LIST OF ACCOUNTS

LINK TO TEXT LINK TO TEXT LINK TO TEXT

Enter the beginning cash and capital balances and post the transactions.(Post entries in the order of journal entries presented in the previous question.)

Cash	No. 101
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
Accounts Receivable	No. 112
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
Inventory	No. 120
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
Supplies	No. 126
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
Accounts Payable	No. 201
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1
Owners Capital	No. 301
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	Balance
Sales Revenue	No. 401
Date	Explanation	Ref.	Debit	Credit	Balance
May 1May 2May 5May 9May 10May 11May 12May 15May 17May 19May 24May 25May 27May 29May 31	J1