Part 1: Journalize the transactions below for May, the last month of the fiscal year. If an amount box does not require an entry, leave it blank. Mav 1: Paid rent for Mav, $5.000. May 1: Paid rent for May, $5,000. May 2: Sold merchandise on account to Korman Co., terms n/15, FOB shipping point, $68,500. The cost of th May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. May 4: Paid freight on purchase of May 3,$600. May 7: Received $22,300 cash from Halstad Co. on account. Cash Accounts Receivable Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Salaries Payable Customers Refunds Payable Common Stock Retained Earnings Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000. May 26: Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800. May 28: Paid sales salaries of $56,000 and office salaries of $29,000. NOTE: You must complete parts 1 and 2 before completing part 3 . Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. May 21: For the convenience of Crescent Co., paid freight on sale of May 21,$2,300. May 21: Received $42,900 cash from Gee Co. on account. May 29: Purchased store supplies for cash, $2,400. May 30: Sold merchandise on account to Turner Co., terms n/ May 31: Received cash from sale of May 21 plus freight. May 31: Paid for purchase of May 21, less return of May 24. May 29: Purchased store supplies for cash, $2,400. May 30: Sold merchandise on account to Turner Co., terms n/30, FOB shipping point, $78,750. The cost of the goods sold was $47,000. May 31: Received cash from sale of May 21 plus freight. May 31: Paid for purchase of May 21, less return of May 24. to update or post to the accounts receivable and accounts payable subsidiary ledgers. May 13: Paid for merchandise purchased on May 3. May 15: Paid advertising expense for last half of May, $11,000. May 17: Received cash from sale of May 2. May 19: Purchased merchandise for cash, $18,700. Part 1: Journalize the transactions below for May, the last month of the fiscal year. If an amount box does not require an entry, leave it blank. Mav 1: Paid rent for Mav, $5.000. May 1: Paid rent for May, $5,000. May 2: Sold merchandise on account to Korman Co., terms n/15, FOB shipping point, $68,500. The cost of th May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. May 4: Paid freight on purchase of May 3,$600. May 7: Received $22,300 cash from Halstad Co. on account. Cash Accounts Receivable Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Salaries Payable Customers Refunds Payable Common Stock Retained Earnings Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000. May 26: Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800. May 28: Paid sales salaries of $56,000 and office salaries of $29,000. NOTE: You must complete parts 1 and 2 before completing part 3 . Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. May 21: For the convenience of Crescent Co., paid freight on sale of May 21,$2,300. May 21: Received $42,900 cash from Gee Co. on account. May 29: Purchased store supplies for cash, $2,400. May 30: Sold merchandise on account to Turner Co., terms n/ May 31: Received cash from sale of May 21 plus freight. May 31: Paid for purchase of May 21, less return of May 24. May 29: Purchased store supplies for cash, $2,400. May 30: Sold merchandise on account to Turner Co., terms n/30, FOB shipping point, $78,750. The cost of the goods sold was $47,000. May 31: Received cash from sale of May 21 plus freight. May 31: Paid for purchase of May 21, less return of May 24. to update or post to the accounts receivable and accounts payable subsidiary ledgers. May 13: Paid for merchandise purchased on May 3. May 15: Paid advertising expense for last half of May, $11,000. May 17: Received cash from sale of May 2. May 19: Purchased merchandise for cash, $18,700