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. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 Record purchase of books on account from Readers Wholesale for $2,600, terms 1/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit May 02 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. 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. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 Record payment of cash for freight costs of $130 on books purchased from Readers. Note: Enter debits before credits. Date General Journal Debit Credit May 03 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. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet