John's Specialty Store uses a periodic Inventory system. The following are some Inventory transactions for the month of May: 2.5 points L 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 (). 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. eBook Required: Prepare the necessary joumal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Hint View transaction list Print Reference Journal entry worksheet 1 2 3 4 5 Record the merchandise purchased on account for $6,300. Note: Enter debits before credits Transaction General Journal ebit 3.300 Credit Accounts payable Record entry View general Journal Clear entry