Winters Hardware Store Accounting Homework!

Problem 5-1A (Part Level Submission) Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters' ledger showed Cash of $10,400 and Common Stock of $10,400 Purchased merchandise on account from Black Wholesale Supply for $7,750, terms 1/10, n/30 Sold merchandise on account for $4,600, terms 2/10, n/30. The cost of the merchandise sold was $3,450 Received credit from Black Wholesale Supply for merchandise returned $350 May 1 2 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 $1,170 12 Purchased merchandise for cash $4,030 15 Received $299 refund for return of poor-quality merchandise from supplier on cash purchase 17 Purchased merchandise from Wilhelm Distributors for $2,100, terms 2/10, n/30 19 Paid freight on May 17 purchase $325 24 Sold merchandise for cash $7,150. The cost of the merchandise sold was $5,330 25 Purchased merchandise from Clasps Inc. for $1,040, terms 3/10, n/30 27 Paid Wilhelm Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $135. The returned merchandise had cost $96 31 Sold merchandise on account for $1,664, terms n/30. The cost of the erchandise sold was $1,079