Q3. Maia's Bike Shop uses the periodic inventory system and had the following transactions during the month of May: May 3 | Sold merchandise to a customer on credit for $600, terms 2/10, n/30. The cost May 4Sold merchandise to a customer for cash of $425. The cost of the merchandise May 6 Sold merchandise to a customer on credit for $1,300, term 2/10, n/30. The cost May 8 The customer from May 3 returned merchandise with a selling price of $100. May 15The customer from May 6 paid the full amount due, less any appropriate May 31The customer from May 3 paid the full amount due, less any appropriate of the merchandise sold was $350. was $250. of the merchandise sold was $750. The cost of merchandise returned was $55 discounts earned discounts earned. Instructions: Prepare the required journal entries that Maia's Bike Shop must make to record these transactions