John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May 2018: 12 John's returned some ol the merchandise purchnsed n ol the coste te mehnisewan $600 and Jon's account as 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $600 and John's account was credited by the supplier. 3. Merchandise costing $2,800 was sold for $5,200 in cash. Required Prepare the necessary journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record the merchandise purchased on account for $5,000. Note: Enter debits before credits. Transaction General Journal Debit Credit