Sandhill Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger

of Sandhill showed Cash of $$5,500$ and Owner's Capital of $$5,500.$

May $1$ Purchased merchandise on account from Braun's Wholesale Supply for $$4,300,$ terms $\frac{2}{10},\frac{n}{30}.$

$2$ Sold merchandise on account $$1,600,$ terms $\frac{1}{10},\frac{n}{30}.$ The cost of the merchandise sold was $$1,300.$

$5$ Received credit from Braun's Wholesale Supply for merchandise retumed $$200.$

$9$ Received collections in full, less discounts, from customers billed on May $2.$

$10$ Paid Braun's Wholesale Supply in full, less discount.

$11$ Purchased supplies for cash $$350.$

$12$ Purchased merchandise for cash $$1,200.$

$15$ Received $$200$ refund for return of poor$-$quality merchandise from supplier on cash purchase.

$17$ Purchased merchandise on account from Valley Distributors for $$1,100,$ terms $\frac{2}{10},\frac{n}{30},$ FOB shipping point.

$19$ Paid freight on May $17$ purchase $$170.$

$24$ Sold merchandise for cash $$3,200.$ The merchandise sold had a cost of $$1,800.$

$25$ Purchased merchandise on account from Lumley, Inc. for $$550,$ terms $\frac{2}{10},\frac{n}{30}.$

$27$ Paid Valley Distributors in full, less discount.

$29$ Made refunds to cash customers for returned merchandise $$70.$ The retumed merchandisecost $$40.$

$31$ Sold merchandise on account for $$1,000$ terms $\frac{n}{30}.$ The cost of the merchandise sold was $$600.$

Sandhill Hardware's chart of accounts includes the following: No$.101$ Cash, No$.112$ Accounts Receivable, No$.120$ Inventory, No$.126$

Supplies, No$.201$ Accounts Payable, No$.301$ Owner's Capital, No$.401$ Sales Revenue, No$.412$ Sales Returns and Allowances, No$.414$

Sales Discounts, and No$.505$ Cost of Goods Sold.

$($a$)$

$($b$)$

Your answer is partially correct.

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

previous part.$)$Sandhill Hardware Store completed the following merchandising transactions in the mont of May. At the beginning of May, the ledger of Sandhill showed Cash of $$5,500$ and Owner's Capital of $$5,500.$ May $1$ Purchased merchandise on account from Braun's Wholesale Supply for $$4,300,$ term $2/10,$n$/30.2$ Sold merchandise on account $$1,600,$ terms $1/10,$n$/30.$ The cost of the merchandise sold was $$1,300.5$ Received credit from Braun's Wholesale Supply for merchandise returned $$200.9$ Received collections in full, less discounts, from customers billed on M M$,2.10$ Paid Braun's Wholesale Supply in full, less discount. $11$ Purchased supplies for cash $$350.12.$ Purchased merchandise for cash $$1,200.15$ Received $$200$ refund for return of poor$-$quality merchandise from supplier on cash purchase. $17$ Purchased merchandise on account from Valley Distributors for $$1,100,$ terms $2/10,$n$/30.$ FOB shipping point. $19$ Paid freight on May $17$ purchase $$170.19$ Paid freight on May $17$ purchase $$170.24$ Sold merchandise for cash $$3,200.$ The merchandise sold had a cost of $$1,800.25$ Purchased merchandise on account from Lumley, Inc. for $$550,$ terms $2/10,$n$/30.27$ Paid Valley Distributors in full, less discount. $29$ Made refunds to cash customers for returned merchandise $$70.$ The returned merchandisecost $$40.31$ Sold merchandise on account for $$1,000$ terms n$/30.$ The cost of the merchandise sold was $$600.$ Sandhill Hardware's chart of accounts includes the following: No$.101$ Cash, No$.112$ Accounts Receivable, No$.120$ Inventory, No$.126$ Supplies, No$.201$ Accounts Payable. No$.301$ Owner's Capital, No$.401$ Sales Revenue, No$.412$ Sales Returns and Allowances, No$\mathrm{.}414$ Sales Discounts, and No$.505$ Cost of Goods Sold.

Enter the beginning cash and capital balances and post the transacations.