Johns Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May 2016:

1.	John's purchased merchandise on account for $5,200. Freight charges of $400 were paid in cash.
2.	Johns returned some of the merchandise purchased in (1). The cost of the merchandise was $700 and Johns account was credited by the supplier.
3.	Merchandise costing $2,900 was sold for $5,400 in cash.

Required:

Prepare the necessary journal entries to record these transactions