10 Bridgeport Hardware Store Inc. completed the following merchandising transactions in the month of May 2022. At the beginning of May, Bridgeport's ledger showed Cash of $11,000 and Common Shares of $11,000. May 1 Purchased merchandise on account from Hilton Wholesale Supply for $11.000. terms 2/10, 1/30. 2 Sold merchandise on account for $5,800, terms n/30. The cost of the merchandise sold was $4,900. 5 Received credit from Hilton Wholesale Supply for merchandise returned $390. 9 Received collections in full from customers billed on May 2. Paid Hilton Wholesale Supply in full, less discount 11 Purchased supplies for cash $1,160. Purchased merchandise for cash $3,350. Received $430 refund for return of poor quality merchandise from supplier on cash purchase. Purchased merchandise from Northern Distributors for $3,150, terms 2/10, 1/30. 19 Paid freight on May 17 purchase $430. Sold merchandise for cash $6,600. The cost of the merchandise sold was $5.500. 25 Purchased merchandise from Toolware Inc for $1,060, terms 3/10,n/30 Paid Northern Distributors in full, less discount Made refunds to cash customers for returned merchandise $146. The returned merchandise was returned to inventory and had cost $118. 31 Sold merchandise on account for $1,500, terms /30. The cost of the merchandise sold was $1,160. 12 15 17 24 27 29 Bridgeport Hardware uses a perpetual inventory system and expects a return rate of 3% on all sales. Cash > Inventory