Sunland Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Sunlands' ledger showed Cash of $8,900 and Common Stock of $8,900. May 1 2. 5 Purchased merchandise on account from Black Wholesale Supply for $8,900, terms 1/10, n/30. Sold merchandise on account for $5,300, terms 2/10,n/30. The cost of the merchandise sold was $4,200. Received credit from Black Wholesale Supply for merchandise returned $200. 5 9 9 10 Received collections in full, less discounts, from customers billed on May 2. Paid Black Wholesale Supply in full, less discount. Purchased supplies for cash $900. Purchased merchandise for cash $3,900. 11 12 15 17 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase. Purchased merchandise from Wilhelm Distributors for $3,300, terms 2/10,n/30. Paid freight on May 17 purchase $250. Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 19 24 25 Purchased merchandise from Clasps Inc. for $800, terms 3/10,n/30. 27 Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $108. The returned merchandise had cost $94. 29 31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $838. Date Account Titles and Explanation Debit Credit May 1 May 2 (To record credit sale) (To record cost of merchandise sold) May 5 | UU ULIO May 9 ULL ON (To record sales) (To record cost of merchandise sold)