Sandhill Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Sandhills ledger showed Cash of $9,100 and Common Stock of $9,100.

May 1 Purchased merchandise on account from Black Wholesale Supply for $9,100, terms 1/10, n/30.

*Given info is in the first photo*

Part B. Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of journal entries posted in part (a). Round answers to 0 decimal places, e.g. 5,275.)

Sandhill Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Sandhills' ledger showed Cash of $9,100 and Common Stock of $9,100. May 1 2. Purchased merchandise on account from Black Wholesale Supply for $9,100, terms 1/10, n/30. Sold merchandise on account for $5,500, terms 2/10,n/30. The cost of the merchandise sold was $4,400. Received credit from Black Wholesale Supply for merchandise returned $200. 5 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 $900. 12 Purchased merchandise for cash $4,100. Received $230 refund for return of poor-quality merchandise from supplier on cash purchase. 15 17 Purchased merchandise from Wilhelm Distributors for $3,500, terms 2/10, n/30. 19 Paid freight on May 17 purchase $250. Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 24 25 27 Purchased merchandise from Clasps Inc. for $800, terms 3/10,n/30. Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $118. The returned merchandise had cost $98. Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $794. 29 31 (b) Your answer is partially correct. Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of journal entries posted in part (a). Round answers to decimal places, e.g. 5,275.) Cash 5/1 Bal. 9100 5/10 8811 5/9 5390 5/11 900 5/15 230 5/12 4100 5/24 5500 5/19 250 5/27 3430 5/29 118 5/31 Bal. 2611 Accounts Receivable 5/2 5500 5/9 5500 5/31 1280 5/31 Bal. 1280 Inventory 5/1 9100 5/2 4400 5/12 4100 5/5 200 5/17 3500 5/15 230 5/19 250 5/24 4100 5/25 800 5/31 794 5/29 98 5/31 Bal. 8124 Supplies 5/11 900 5/31 Bal. 900 Accounts Payable 5/5 200 5/1 9100 5/10 9100 5/17 3500 5/25 800 5/31 Bal. 1000 5/27 C 3500 Common Stock 5/31 Bal. 9100 5/1 Bal. 9100 Sales Revenue 5/2 5500 5/31 Bal. 12280 5/24 5500 5/31 1280 Sales Returns and Allowances 5/29 118 5/31 Bal. 118 Sales Discounts 5/9 110 5/10 91 . 5/31 51 5/27 70 Cost of Goods Sold 5/2 4400 5/29 98 5/24 4100 5/31 Bal. 9196 5/31 794