*Problem 5-11A Journalizing purchase and s transactions

Singh Distributing Company, which uses the periodic inventory system, engaged in the following transactions during May of the current year: inventory system

may 3 -Purchased office supplies for cash, $22,000

may 7-Purchased inventory on credit terms of 3/10, net eom, $160,000.

may 8-Returned 10 percent of the inventory purchased on May 7. It was not the inventory ordered

may 10-Sold goods for cash, $36,400.

may 13-Sold inventory on credit terms of 2/15, n/45 for $60,300, less $8,800 quantity discount offered to customers who purchase in large quantities.

may 16-Paid the amount owed on account from the purchase of May 7

may 17-Received wrong-sized inventory returned from May 13 sale, $3,200, which is the net amount after the quantity discount.

may 18-Purchased inventory of $76,000 on account. Payment terms were 2/10,net 30.

may 26-Paid supplier for goods purchased on May 18

may 28-Received cash in full settlement of the account from the customer whopurchased inventory on May 13.

may 29-Purchased inventory for cash, $26,000, less a quantity discount of $2,200,and paid freight charges of $600.

Required Journalize the preceding transactions on the books of Singh Distributing company