The ledger accounts given below, with an identification number for each are used by Tactical Supplies. The company uses a perpetual inventory system. Prepare appropriate entries for the month of May by placing the appropriate identification number(s) in the debit and credit colum provided and the dollar amounts pertaining to each account in the adjoining columns. Item O is given as an example. (Round answers to O decimal places, e.. 1,525) 1. Cash Accounts Receivable 2 3. Notes Receivable 4. Inventory 5. Supplies & Land 7 Accounts Payable Sales Returns and Allowances 9. Sales Discounts 10 Sales Revenue 11 Cost of Goods Sold 12 Freight Out Question 2. -/1 E ALLUNIO Entry Information Debited Credited Debit Ar Purchased merchandise for cash of $200 4 1 1 May 1: Sold merchandise with a cost of $200 for cash of $360, terms net 30 O $ 0 2 May 2: Purchased merchandise from Supplier, Incon account for $1.600. $ terms 2/10, n/30 3 May 7: Returned $400 of merchandise that had been purchased from Supplier, Inc. on May 2 O 4 May 12: Sold merchandise costing $440 to Bike World on account for $730. terms 2/10,n/30. Bike World will pay $32 freight costs per the shipping terms May 13: Accepted a return of merchandise from Bike World with a cost of $48. Granted a credit on account of $80 0 0 6 May 19: Purchased merchandise from AB Supply on account for $1,300 terms 1/10.n/30 Mm30 Bidfit of $72 on the shipment from Supplier Inc per the 0 5 Question 2 of 10 $730. terms 2/10/30. Bike World will pay $32 freight costs per the shipping terms May 13: Accepted a return of merchandise from Bike World with a cost of $48. Granted a credit on account of $80 6 May 19: Purchased merchandise from All Supply on account for $1.300; terms 1/10, n/30 7 May 20: Paid freight of $72 on the shipment from Supplier. Inc. per the shipping terms of purchase on May 3 8 May 21: Received payment in full from Bike World 9 May 23: Paid Supplier, Inc. in full 10 May 28: Paid AB Supply in full $ $ $ $ $ 0 $ $ O $ $ -/1 E Chapter 5 Homework Question 2 of 10 tion x0 $200 for cash of $360. terms net 30 Accounts Accounts) Debited Credited Debit Amount 1 $200 $ $ applier, Inc. on account for $1.600. that had been purchased from: Oto Bike World on account for pay $32 freight costs per the dise from Bike World with a cost of 1 AB Supply on account for $1.300 Credit Amount $200