the transactions for April and May in Blue Spruce's records assuming that the company uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit April 26 Accounts Receivable 67710 Sales April 26 (To record sales) Cost of Goods Sold 49324 Inventory (To record cost of goods sold) Accounts Receivable May 5 V Sales Mays (To record sales) Cost of Goods Sold Inventory (To record cost of goods sold) Cash May 18 V Accounts Receivable 73200 e Textbook and Media 1 3 4 7 Piper Specialty Store Ltd. completed the following merchandising transactions in the month of May 2021. At the beginning of May, Piper's ledger showed Cash $8,800; Accounts Receivable $2,800; Inventory $4,400; Common Shares $9,600; and Retained Earnings $6,400. Piper Specialty has experienced a return rate of 2% of sales and uses a perpetual inventory system Purchased merchandise on account from Depot Wholesale Supply Ltd. for $6,240, terms 1/10,n/30, FOB May shipping point Freight charges of $164 were paid by the appropriate party on the merchandise purchased on May 1. Sold merchandise on account to Yip Company for $4,400, terms /30, FOB destination. The cost of the merchandise was $3.300. Freight charges of $104 were paid by the appropriate party on the May 4 sale. Received a $140 credit from Depot Wholesale Supply when merchandise was returned. Paid Depot Wholesale Supply in full. Purchased supplies for $480 cash. Received payment in full from Yip Company for merchandise sold on account on May 4. Collected $1.120 of the accounts receivable outstanding at the beginning of the month. All accounts were originally sold on terms of n/30 Purchased merchandise from Harlow Distributors Inc. for $3,200, terms 1/30, FOB destination Freight of $56 was paid by the appropriate party on the May 18 purchase of merchandise. Sold merchandise to various customers for $8.400 cash. The cost of the merchandise was $4,700. Paid a $112 cash refund to customers for returned merchandise. The cost of the returned merchandise was $64. It was restored to inventory A physical inventory count was taken and determined that there was $5,680 of inventory on hand. Prepare any adjustment required 8 9 11 14 15 18 21 22 29 31 (a)