2) The following transactions occurred for MMs Jewelry Store during the month:

a. On May 1, the owner purchased 100 rings on account at $6,000 each. Credit terms were 2/10, net 30.

b. On May 2, the owner returned one ring.

c. On May 3, the owner sold three of the rings on account at $8,000 each to one customer. The credit terms were 2 net 30.

d. On May 9, the owner paid the debt due.

e. On May 15, the customer from May 3 paid for the rings.

Required: Prepare the journal entries for the above transactions. 1. The store uses the perpetual inventory system and the net method to record purchase discounts. Explanations not required.