During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows:

June $3$ Purchased goods for $$4,700$ from Diamond Incorporated with terms $2/10,$ n$/30.$

June $5$ Returned goods costing $$1,400$ to Diamond Incorporated for credit on account.

June $22$ Paid the balance owed to Diamond Incorporated.

Required:

Prepare journal entries to record the transactions, assuming Ace records discounts using the gross method in a perpetual inventory system. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$