Johns Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May 2018:

Johns purchased merchandise on account for $6,500. Freight charges of $1,050 were paid in cash.

Johns returned some of the merchandise purchased in (1). The cost of the merchandise was $1,350 and Johns account was credited by the supplier.

Merchandise costing $3,550 was sold for $6,700 in cash.

Required: Prepare the necessary journal entries to record these transactions.

1.) Record the merchandise purchased on account for $6,500

2.) Record the freight charges of $1,050.

3.) Record the return of merchandise costing $1,350

4.) Record the sale of merchandise of $6,700 in cash