John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $6,300. Freight charges of $950 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,250 and John's account was credited by the supplier. 3. Merchandise costing $3,450 was sold for $6,500 in cash. Required: Prepare the necessary journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journ: entry required" in the first account field.) Journal entry worksheet 2345 Record the merchandise purchased on account for $6,300. Note: Enter debits before credits. Journal entry worksheet 5 Record the payment of freight charges for $950. Note: Enter debits before credits. Journal entry worksheet Record the return of merchandise purchased on account costing \$1,250. Note: Enter debits before credits. Journal entry worksheet 12 Record the sale of merchandise for $6,500 in cash. Note: Enter debits before credits. Journal entry worksheet 1 2 3 Record the cost of goods sold for $3,450. Note: Enter debits before credits