Robert Chase recently opened Robert's Skate Shop. As the bookkeeper of the company, use the periodic method to journalize, record, and post when appropriate the following transactions (account numbers are Store Supplies 115; Store Equipment 121; Accounts Payable 210; Purchases 510):
201X
May 4
Bought $600 of merchandise on account from Wales Co., invoice no. 442, dated May 5; terms 3/10, n/30.
5 Bought $4,600 of store equipment on account from Kingston Co., invoice no. 502, dated May 6.
8 Bought $1,700 of merchandise on account from Rolo Co., invoice no. 401, dated May 9; terms 3/10, n/30.
14 Bought $1,000 of store supplies on account from Wales Co., invoice no.
419, dated May 14.