John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $5,100. Freight charges of $350 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $650 and John's account was credited by the supplier. 3. Merchandise costing $2,850 was sold for $5,300 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.)