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 $5,700. Freight charges of $650 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $950 and John's account was credited by the supplier. 3. Merchandise costing $3,150 was sold for $5,900 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.)