Littleton Books has the following transactions during May.

May		2		Purchases books on account from Readers Wholesale for $4,000, terms 1/10, n/30.
May		3		Pays cash for freight costs of $270 on books purchased from Readers.
May		5		Returns books with a cost of $300 to Readers because part of the order is incorrect.
May		10		Pays the full amount due to Readers.
May		30		Sells all books purchased on May 2 (less those returned on May 5) for $4,700 on account.

2. Record the period-end adjustment to cost of goods sold on May 31, assuming the company has no beginning or ending inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)