Renner Hardware Store completed the following merchandising transactions in the month of May. 

May 1 Purchased merchandise on account from Braun’s Wholesale Supply $4,200, terms 2/10, n/30. 

5 Received credit from Braun’s Wholesale Supply for merchandise returned $300. 

10 Paid Braun’s Wholesale Supply in full, less discount. 

11 Purchased supplies for cash $400. 

12 Purchased merchandise for cash $1,400. 

15 Received refund for poor-quality merchandise from supplier on cash purchase $150. 

17 Purchased merchandise from Valley Distributors $1,300, FOB shipping point, terms 2/10, n/30. 

19 Paid freight on May 17 purchase $130. 

25 Purchased merchandise from Lumley, Inc. $620, FOB destination, terms 2/10, n/30. 

27 Paid Valley Distributors in full, less discount. 

Instructions 

Journalize the transactions using a perpetual inventory system.