A company has the following transactions during May.

May2Purchases books on account from Readers Wholesale for $2,500, terms 2/10, n/30.May3Pays cash for freight costs of $120 on books purchased from Readers.May5Returns books with a cost of $250 to Readers because part of the order is incorrect.May10Pays the full amount due to Readers.May30Sells all books purchased on May 2 (less those returned on May 5) for $3,200 on account.

Required:

1.Record the transactions of the company, assuming the company uses a perpetual inventory system.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)