RION Downloadable eTextbook nment FINANCIAL ACCOUNTING (ACCT 221) Problem 5-1A (Part Level Submission) Winters Hardware Store completed the following merchandising transactions in the month of May. At the begining of May,Wnters' ledoger showed Cash ot $11,200 and Common Stock of $11,200. CALCULATOR MESSAGE MY May 1 Purchased merchandise on account from Black wholesale Supply for $7,950, terms 1/10, n/30 2 Sold merchandise on account for $4,500, terms 2/10, n/30. The cost of the merchandse sold was $3,375. 5 Received credit from Black Wholesale Supply for merchandise returned $450 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 $4,000, 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 returmed merchandise $135. The returned merchandise had cost $100 31 Sold merchandise on account for $1,79 2, terms n/30. The cost of the merchandise sold was s1,162 (a) W Your answer is correct. 4