Journalize the transactions using a perpetual inventory system with date, account titles and explanation and debit and credit

Crane Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Crane showed Cash of $5,500 and Owner's Capital of $5,500. May 1 Purchased merchandise on account from Braun's Wholesale Supply for $4,200, terms 2/10,n/30. 2 Sold merchandise on account $1,600, terms 1/10,n/30. The cost of the merchandise sold was $1,200. 5 Received credit from Braun's Wholesale Supply for merchandise returned $400. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Braun's Wholesale Supply in full, less discount. 11 Purchased supplies for cash $350. 12. Purchased merchandise for cash $1,500. 15 Received $150 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Valley Distributors for $1,400, terms 2/10,n/30,FOB shipping point. 19 Paid freight on May 17 purchase $170. 24 Sold merchandise for cash $2,900. The merchandise sold had a cost of $1,800. Crane Hardware's chart of accounts includes the following: No. 101 Cash. No. 112 Accounts Receivable, No. 120 inventory, No. 126 Supplies, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue. No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. (a) Journalize the transactions using a perpetual inventory system. (Llst all debit entries before credit entries Credit diccount tities are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the occount tittes and enter ofor the omounts.)