Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters ledger showed Cash of $11,200 and Common Stock of $11,200 May 1 2 5 9 10 11 12 15 17 19 24 25 27 29 31 Purchased merchandise on account from Black Wholesale Supply for $7,900, terms 1/10, n/30 Sold merchandise on account for $4,800, terms 2/10, n/30. The cost of the merchandise sold was $3,600 Received credit from Black Wholesale Supply for merchandise returned $300 Received collections in full, less discounts, from customers billed on May 2 Paid Black Wholesale Supply in full, less discount. Purchased supplies for cash $1,260 Purchased merchandise for cash $4,340 Received $322 refund for return of poor-quality merchandise from supplier on cash purchase Purchased merchandise from Wilhelm Distributors for $2,750, terms 2/10, n/30 Paid freight on May 17 purchase $350 Sold merchandise for cash $7,700. The cost of the merchandise sold was $5,740 Purchased merchandise from Clasps Inc. for $1,120, terms 3/10, n/30 Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $135. The returned merchandise had cost $90 Sold merchandise on account for $1,792, terms n/30. The cost of the merchandise sold was $1,162 Journalize the transactions using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit To record credit sale) To record cost of merchandise sold) To record sales) (To record cost of merchandise sold) To record payment for returned merchandise) (To record cost of goods returned) To record credit sale) To record cost of goods sold on account) Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of journal entries posted in part (a). Round answers to O decimal places, e.g. 5,275.) Cash Accounts Inventory Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold