equired information

Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5)

[The following information applies to the questions displayed below.]

Littleton Books has the following transactions during May.

May 2	Purchases books on account from Readers Wholesale for $2,300, terms 2/10, n/30.
May 3	Pays cash for freight costs of $100 on books purchased from Readers.
May 5	Returns books with a cost of $300 to Readers because part of the order is incorrect.
May 10	Pays the full amount due to Readers.
May 30	Sells all books purchased on May 2 (less those returned on May 5) for $3,000 on account.

No	Date	General Journal	Debit	Credit
1	May 02	Inventory	2,300
		Accounts Payable		2,300
2	May 03	Inventory	100
		Cash		100
3	May 05	Accounts Payable	300
		Inventory		300
4	May 10	Accounts Payable	2,000
		Cash
		Inventory
5	May 30	Accounts Receivable	3,000
		Sales Revenue		3,000
6	May 30	Cost of Goods Sold
		Inventory