CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 5-01A Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Wildhorses' ledger showed Cash of $8,100 and Common Stock of $8,100. May 1 Purchased merchandise on account from Black Wholesale Supply for $8,100, terms 1/10, 1/30. 2 Sold merchandise on account for $4,500, terms 2/10, n/30. The cost of the merchandise sold was $3,400. S Received credit from Black Wholesale Supply for merchandise returned $200. 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 $3,100. 15 Received $230 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $2,500, terms 2/10, 1/30. 19 Pald freight on May 17 purchase $250. 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was 54,100 25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, 1/30. 27 Paid Wilhelm Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $118. The returned merchandise had cost $100. 31 Sold merchandise on account for $1,280, terms 1/30. The cost of the merchandise sold was $814 Journalize the transactions using a perpetual Inventory system. (If no entry is required, select "No Entry for the account titles and enter o 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.) Debit Credit Date Account Titles and Explanation May SHOW LIST OF ACCOUNTS CALCULATOR LINK TO TEXT LINK TO VIDEO ay Prepare an income statement through gross profit for the month of May 2022. (Round answers to o decimal places, e.g. 5,275.) WILDHORSE HARDWARE STORE Income Statement (Partial) May 31, 2022