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Question 1 (17 points) Ki Grocery Store is a merchandising business that sells groceries to the public. Using the following accounts, prepare the journal entries for the merchandising business. The business uses a perpetual inventory system. Remember to provide the account you debit and credit for each transaction. Bank, A/R, Merchandise Inventory, Equipment, A/P, Ki, Capital, Ki, Drawings, Sales, Sales Returns, Sales Discounts, Cost of Goods Sold, Delivery Expense, Rent Expense Advertising Expense, Wages Expense a) May 1 Ki Grocery Store purchased various groceries for resale at a cost of $15,000 on account, n/30. b) May 5 Returned $1,000 worth of groceries due to spoilage. c) May 10 Paid a $10,000 debt owing to a supplier, with a discount of $200 for a net amount of $9,800. d) May 12 Cash sales of $35,000 were made and deposited in their bank account. The goods cost $25.000 e) May 18 A customer returned goods that were sold for $150 and was given a cash refund. The goods cost the business $75. account, n/30. b) May 5 Returned $1,000 worth of groceries due to spoilage. c) May 10 Paid a $10,000 debt owing to a supplier, with a discount of $200 for a net amou $9,800. d) May 12 Cash sales of $35,000 were made and deposited in their bank account. The gooc cost $25,000. e) May 18 A customer returned goods that were sold for $150 and was given a cash refund. goods cost the business $75. f) May 20 Paid $50 transportation costs to get goods to their place of business. Paragraph B I VA I Uv A7 1111 Oh + V