A company has the following transactions during March: March 3 Purchases inventory on account for $3,100, terms 2/10, n/30. March 5 Pays freight costs of $250 on inventory purchased on March 3. March 6 Returns inventory with a cost of $700. March 12 Pays the full amount due on March 3 purchase. March 29 Sells all inventory purchased on March 3 (less those returned on March 6) for $5,700 on account. Record all transactions, including the month-end adjustment to cost of goods sold, assuming the company uses a periodic inventory system and has no beginning inventory

• Record month-end adjustment.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
March 31	Cost of Goods Sold	2,102
	Purchases		2,102