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t Player Ul ApplX O Ch 5: Homework PS-1A NWP Assessment Player Ul App CDCARREICH aml?launchid03052317-8925-4685-9e70-4205fbd77bb6#/question/0 Question 1 of 1 0.32 / 1 View Policies Show Attempt History Current Attempt in Progress Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May Winters' leder showed Cash of 58.800 and Common Stock of $8.800 May 1 2 5 9 10 11 12 15 17 19 24 25 27 29 31 Purchased merchandise on account from Black Wholesale Supply for $8.200, terms 1/10, 1/30 Sold merchandise on account for $4.800, term 2/10, 1/30. The cost of the merchandise sold was $3,600, Received credit from Black Wholesale Supply for merchandise returned $400. Received collections in full less discounts, from customers bied on May 2. Paid Black Wholesale Supply in full less discount Purchased supplies for cash $990. Purchased merchandise for cash 53,410 Received $253 refund for return of poor quality merchandise from supplier on cash purchase Purchased merchandise from Wihelm Distributors for $4.000. terms 2/10, 1/30 Paid freight on May 17 purchase 5275 Sold merchandise for cash 56.050. The cost of the merchandise sold was $4.510 Purchased merchandise from Clasps Inc. for $880, terms 3/10, 1/30 Pald Wilhelm Distributors in full, less discount Made refunds to cash customers for returned merchandise $135. The returned merchandise had cost $90. Sold merchandise on account for $1,408, term 1/30 The cost of the merchandise sold was 5913 Your answer is partially correct Journalize the transactions using a perpetual entory system (no entry is required, select "No Entry for the account titles and enter 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 May Inventory 5200 Post the transactions to accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of Journal entries posted in part al. Round answers to decimal places, s. 5.275) Cash 5/31 Accounts Receivable 5/2 > 4300 5/5 4800 5/31 > 1008 5/31 Bal > -2.930 Inventory 5/15 v 253 5/24 4510 5/27 80 Supplies Accounts Payable Coro Stock Sales Reveme 5/31 Bal Supplies Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances Sales Discounts 5/31 Accounts Receivable 5/2 > 4300 5/5 4800 5/31 > 1008 5/31 Bal > -2.930 Inventory 5/15 v 253 5/24 4510 5/27 80 Supplies Accounts Payable Coro Stock Sales Reveme 5/31 Bal Supplies Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances Sales Discounts