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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 $11,065 and Common Stock of $11,065 Purchased merchandise on account from Hauke Wholesale Supply for $8,100, terms 1/10, n/30 Sold merchandise on account for $5,400, terms 2/10, n/30. The cost of the merchandise sold was $4,050 Received credit from Hauke Wholesale Supply for merchandise returned $400 May 1 2 5 9 Received collections in full, less discounts, from customers billed on May 2 10 Paid Hauke Wholesale Supply in full, less discount 11 Purchased supplies for cash $1,245 12 Purchased merchandise for cash $4,288 15 Received $318 refund for return of poor-quality merchandise from supplier on cash purchase 17 Purchased merchandise from Friedrich Distributors for $3,600, terms 2/10, n/30 19 Paid freight on May 17 purchase $346 24 Sold merchandise for cash $7,607. The cost of the merchandise sold was $5,671 25 Purchased merchandise from Fasteners Inc. for $1,106, 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 $9!5 31 Sold merchandise on account for $1,770, terms n/30. The cost of the merchandise sold was $1,148