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Littleton Books has the following transactions during May. May 2 Purchases books on account from Readers Wholesale for $2,600, terms 1/10, n/30. May 3 Pays

Littleton Books has the following transactions during May.

May 2 Purchases books on account from Readers Wholesale for $2,600, terms 1/10, n/30.
May 3 Pays cash for freight costs of $130 on books purchased from Readers.
May 5 Returns books with a cost of $200 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 $3,300 on account.

2. Assume that payment to Readers is made on May 24 instead of May 10. Record this payment.

record the cash paid on account

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