Current Attempt in Progress

Crane Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Cranes' ledger showed Cash of $$8,300$ and Common Stock of $$8,300.$

May $1$ Purchased merchandise on account from Black Wholesale Supply for $$8,300,$ terms $\frac{1}{10},\frac{n}{30}.$

$2$ Sold merchandise on account for $$4,700,$ terms $\frac{2}{10},\frac{n}{30}.$ The cost of the merchandise sold was $$3,600.$

$5$ Received credit from Black Wholesale Supply for merchandise returned $$200.$

$9$ 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 $$900.$

$12$ Purchased merchandise for cash $$3,300.$

$15$ Received $$230$ refund for return of poor$-$quality merchandise from supplier on cash purchase.

$17$ Purchased merchandise from Wilhelm Distributors for $$2,700,$ terms $\frac{2}{10},\frac{n}{30}.$

$19$ Paid freight on May $17$ purchase $$250.$

$24$ Sold merchandise for cash $$5,500.$ The cost of the merchandise sold was $$4,100.$

$25$ Purchased merchandise from Clasps Inc. for $$800,$ terms $\frac{3}{10},\frac{n}{30}.$

$27$ Paid Wilhelm Distributors in full, less discount.

$29$ Made refunds to cash customers for returned merchandise $$108.$ The returned merchandise had cost $$82.$

$31$ Sold merchandise on account for $$1,280,$ terms $\frac{n}{30}.$ The cost of the merchandise sold was $$857.$

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

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Question $1$ of $2$

$\frac{-}{12\mathrm{.}11}$

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.$)$

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Question $1$ of $2$

$\frac{-}{12\mathrm{.}11}$

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

$($To record credit sale$)$

$($To record cost of merchandise sold$)$