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 $5,900. Freight charges of $750 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,050 and John's account was credited by the supplier. 3. Merchandise costing $3,250 was sold for $6,100 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.) Answer is not complete. General Journal No Transaction Credit Debit 5,900 1 1a Purchases Accounts payable 5,900 2 1b 750 Freight-in Cash 750 3 02 1,050 Accounts payable Purchase Returns 1,050 4 3a Cash 6,100 Sales revenue 6,100 5 3b No journal entry required