May 1: Purchased merchandise on account from ACL, $12,897. Terms are n/30.

May 1: Sold mercandise on account, Invoice No. 201, to Georgia Health Club for the net amount of $5,301.60. The cost of Merchandise Sold is $2,864.

May 2: Received a check for $14,406 from Storage Club in payment of our invoice of March 27 for $14,700, less discount.

May 2: Issued Check No. 2203 for $3,700 to North Pacific Insurance Company as a prepayment of insurance for a 12-month policy.

May 6: Cash sales for May 1-6 were $26,600. The cost of Merchandise Sold is $18,024.