ent CALCULATOR MESSAGt MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEX Problem 5-1A (Part Level Submission) 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 Purchased merchandise on account from Black Wholesale Supply for $7,950, terms 1/10, n/30. 2 Sold merchandise on account for $4,500, terms 2/10, n/30. The cost of the merchandise sold was $3,375. 5 Received credit from Black Wholesale Supply for merchandise returned $450. 9 Received collections in full, less discounts, from customers billied on May 2. 10 Paid Black Wholesale Supply in full, less discount. 11 Purchased supplies for cash $1,260. 12 Purchased merchandise for cash $4,340. 15 Receiv ed $322 refund for return of poor-quality merchandise from supplier on cash purchase. Purchased merchandise from Wilhelm Distributors for $4,000, terms 2/10, n/3o. 17 19 24 Paid freight on May 17 purchase $350. sold merchandise for cash $7,700The cost or the merchandise sold was ss, 740. 25 Purchased merchandise from Clasps Inc. for $1,120, terms 3/10, n/30 27 Paid Withelm Distributors in full, less discount 29 Made refunds to cash customers for returned merchandise $:35. The returned merchandise had cost $100 31 Sold merchandise on account for $1,792, terms n/30. The cost of the merchandise sold was s1,162. (a) Your answer is correct. 4 FS