The ledger accounts given below, with an identification number for each, are used by Tactical Supplies. The company uses a perpetual inventory system. Instructions: Prepare the appropriate entries for the month of May by placing the appropriate identification number(s) in the debit and credits columns provided and the dollar amounts pertaining to each account in the adjoining columns. Item 0 is given as an example.

1. cash

2. accounts recievable

3. notes recievable

4. inventory

5. supplies

6. land

7. accounts payable

8. sales returns and allowances

9. sales discounts

10. sales revenue

11. cost of goods sold

12. freight-out

entry info acct. debited acct. credited debit amnt. credit amnt.

0) Purchased merchandise for cash of $200 4 1 $200 $200

1) May 1: sold merchandise with a cost of $250 for cash of $450, terms net 30

2) May 2: purchased merchandise from supplier, Inc. on account for $2,000 terms 2/10, n/30

3) May 7: returned $500 of merchandise that had been purchased from supplier, Inc. on May 2

4) May 12: sold merchandise costing $550 to Bike World on account for $900, terms 2/10, n/30. Bike World will pay $40 friehgt costs per the shipping terms

5) May 13: accepted a return of merchandise from Bike World with a cost of $60. Granted a credit on account of $100.

6) May 19: purchased merchandise from AB supply on account for $1,600; terms 1/10,n/30

7) May 20: paid frieght of $90 on the shipment from Supplier, Inc. per the shipping terms of purchase on May 3

8) May 21: recieved payment in full from Bike World

9) May 23: paid supplier Inc. in full

10) May 28: paid AB supply in full