Exercise 6-17 (Algo) Record transactions using a periodic system (LO6-8) Littleton Books has the following transactions during May. May 2 Purchases books on account from Readers wholesale for 54,160, terms 2/10,n/30. May 3 Pays cash for freight costs of $28 on books purchased from Readers. May 5 Returns books with a cost of $400 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 $4,89e on account. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. 2. Record the period-end adjusting entry to cost of goods sold on May 31, assuming the company has no beginning or ending inventory. Complete this question by entering your answers in the tabs below. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No loumal Entry Required" in the first account field.) Journal entry worksheet Record purchiase of books on account from Readers Wholesale for 54,100 , terms 2/10,n/30. Notei Enter debits before credits