Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Wildhorses' ledger showed Cash of $9,200 and Common Stock of $9.200. May 1 Purchased merchandise on account from Black Wholesale Supply for $9.200, terms 1/10, n/30. 2 Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,500. 5 Received credit from Black Wholesale Supply for merchandise returned $200. 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 $4,200. 15 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $3,600, terms 2/10, n/30. 19 Paid freight on May 17 purchase $250. 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, n/30 27 Paid Wilhelm Distributors in full, less discount (a) 27 225 29 31 Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $88. The returned merchandise had cost $100.- Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $894. Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) I (To record sales) (To record cost of merchandise sold) (To record cost of goods returned) (To record credit sale) (To record cost of goods sold on account)