Problem 5-1A (Part Level Submission) Waters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Water's ledger showed Cash of $8,747 and Common Stock of $8,747. Purchased merchandise on account from Hauke Wholesale Supply for $8,400, terms 1/10, n/30 Sold merchandise on account for $5,800, terms 2/10, n/30. The cost of the merchandise sold was $4,350. Received credit from Hauke Wholesale Supply for merchandise returned $500. 9 Received collections in full, less discounts, from customers billed on May 2 May 1 2 5 10 Paid Hauke Wholesale Supply in full, less discount 11 Purchased supplies for cash $984. 12 Purchased merchandise for cash $3,390. 15 Received $251 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Friedrich Distributors for $4,600, terms 2/10, n/30. 19 Paid freight on May 17 purchase $273 24 Sold merchandise for cash $6,014. The cost of the merchandise sold was $4,483 25 Purchased merchandise from Fasteners Inc. for $875, terms 3/10, n/30. 27 Paid Friedrich Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $126. The returned merchandise had cost $95. 31 Sold merchandise on account for $1,400, terms n/30. The cost of the merchandise sold was $908