Waters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Water's ledger showed Cash of $11,205 and Common Stock of $11,205.

May

1 Purchased merchandise on account from Hauke Wholesale Supply for $8,300, terms 1/10, n/30.

2 Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,200.

5 Received credit from Hauke Wholesale Supply for merchandise returned $400.

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 $1,261.

12 Purchased merchandise for cash $4,342.

15 Received $322 refund for return of poor-quality merchandise from supplier on cash purchase.

17 Purchased merchandise from Friedrich Distributors for $3,200, terms 2/10, n/30.

19 Paid freight on May 17 purchase $350.

24 Sold merchandise for cash $7,703. The cost of the merchandise sold was $5,742.

25 Purchased merchandise from Fasteners Inc. for $1,120, terms 3/10, n/30.

27 Paid Friedrich Distributors in full, less discount.

29 Made refunds to cash customers for returned merchandise $142. The returned merchandise had cost $107.

31 Sold merchandise on account for $1,793, terms n/30. The cost of the merchandise sold was $1,162.

Journalize the transactions using a perpetual inventory system.