James Company began the month of October with inventory of $17,000. The following inventory transactions occurred during the month:

a.	The company purchased merchandise on account for $25,000 on October 12, 2013. Terms of the purchase were 3/10, n/30. James uses the net method to record purchases. The merchandise was shipped f.o.b. shipping point and freight charges of $520 were paid in cash.
b.	On October 18 the company returned merchandise costing $3,200. The return reduced the amount owed to the supplier. The merchandise returned came from beginning inventory, not from the October 12 purchase.
c.	On October 31, James paid for the merchandise purchased on October 12.
d.	During October merchandise costing $18,300 was sold on account for $28,400.
e.	It was determined that inventory on hand at the end of October cost $20,270.

Required:
1.	Assuming that the James Company uses a periodic inventory system, prepare journal entries for the above transactions including the adjusting entry at the end of October to record cost of goods sold