2. Journalize the following transactions that occurred in May for Franklin's Framing. Purchased $3,000 of inventory from P & M, terms 1/10, n/20. 3 Sold $3,500 of goods to Frames R Us, Inc., terms 2/10, n/EOM. Franklin's cost was $2,240.) 5 Frames R Us returned $300 of goods (cost $198) 11 Paid P & M. 13 Received payment from Frames RUs May 1 3. Journalize the following transactions that occurred during February for Soul Art Gift Shop. Feb. 3 Purchased $2,700 of inventory on account under terms 4/10, n/EOM.and FOB shipping point. 7 Returned $400 of defective merchandise purchased on February 3. 9 Paid freight bill of $110 on February 3 purchase. 10 Sold inventory on account for $4,350. Payment terms were 2/15, n/30. These goods cost the company $2,300. 12 Paid amount owed from February 3 purchase, less the return and the discount. 16 Granted a sales allowance of $500 on the February 10 sale. 23 Received cash from February 10 customer in full settlement of her debt, less the allowance and the discount