Littleton Books has the following transactions during May.

May 2	Purchases books on account from Readers Wholesale for $3,700, terms 2/10, n/30.
May 3	Pays cash for freight costs of $240 on books purchased from Readers.
May 5	Returns books with a cost of $350 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 $4,400 on account.

Exercise 6-9 (Algo) Part 1

Required:

1. Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)