Please answer the questions (KLH@10)

Question

10, 0 points possible (graded. results hidden)

Robinson Co. Ltd. completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Robinson showed Cash balance of $6,000.

a) Journalize the following transactions of May (Assume that the company follows Perpetual Inventor System), by - -- selecting the accounts to be debited and stating the debit amounts,

- -- selecting the accounts to be credited and stating the credit amounts.

May 1--- Purchased merchandise on account from Logun Ltd. $4,600,terms 2/10,n/30.

May 2--- Sold merchandise on account $2,100,terms 1/15, n/30.The cost of the merchandise sold was $1,300.

May 5---- Purchased merchandise for cash $1,500.

May 7---- Received credit from Logun Ltd. for merchandise returned $300

May 10--- Paid Logun Ltd. for purchase in May 1.

May 12---- Received payment in cash from customers billed on sales 0112,100 on May 2.

May 15--- Received refund for the return of poor quality merchandise on cash purchase $150.

May 17---- Purchased merchandise from Costa Distributors $1,300 FOB shipping point terms 2/10 n/30 The appropriate party also made a cash payment of $100 for freight on this date.

May 24---- Sold merchandise for cash $3200.The merchandise sold had a cost of $2,000. Account to be debited (in relation to income) is

May 25---- Purchased merchandise from Bonanza, Inc. $550, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $130 for freight on this date.

May 27---- Paid Costa Distributors for the purchase in May 17.

May 29---- Made refunds to cash customers for defective merchandise $80. The returned merchandise had a scrap value of 120

May 31---- Sold merchandise on account $900,terms n/30.The cost of the merchandise sold was $560.

Please do it accurately