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 $5,300. Freight charges of $450 were paid in cash 2. John's returned some of the merchandise purchased in (). The cost of the merchandise was $750 and John's account was credited by the supplier 3. Merchandise costing $2,950 was sold for $5,500 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.) Journal entry worksheet