Problem 5-1A (Part Level Submission) Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters ledger showed Cash of $8,800 and Common Stock of $8,800 May 1 2 5 9 10 11 12 15 17 19 24 25 27 29 31 Purchased merchandise on account from Black wholesale Supply for $8,500, terms 1/10, n/30 Sold merchandise on account for $4,700, terms 2/10, n/30. The cost of the merchandise sold was $3,525 Received credit from Black Wholesale Supply for merchandise returned $500 Received collections in full, less discounts, from customers billed on May 2 Paid Black Wholesale Supply in full, less discount. Purchased supplies for cash $990 Purchased merchandise for cash $3,410 Received $253 refund for return of poor-quality merchandise from supplier on cash purchase Purchased merchandise from Wilhelm Distributors for $3,950, terms 2/10, n/30 Paid freight on May 17 purchase $275 Sold merchandise for cash 6,050. The cost of the merchandise sold was $4,510 Purchased merchandise from Clasps Inc. for $880, terms 3/10, n/30 Paid Wilhelm Distributors in full, less discount. Made refunds to cash customers for returned merchandise $135. The returned merchandise had cost $97 Sold merchandise on account for $1,408, terms n/30. The cost of the merchandise sold was $913