Required information

$[$The following information applies to the questions displayed below.$]$

Littleton Books has the following transactions during May.

May $2$ Purchases books on account from Readers Wholesale for $$3,300,$ terms $\frac{1}{10},\frac{n}{30}.$

May $3$ Pays cash for freight costs of $$200$ on books purchased from Readers.

May $5$ Returns books with a cost of $$400$ 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,$

Required:

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.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

Record purchase of books on account from Readers Wholesale for $$3,300,$ terms $\frac{1}{10},\frac{n}{30}.$

Required information

$[$The following information applies to the questions displayed below.$]$

Littleton Books has the following transactions during May.

May $2$ Purchases books on account from Readers Wholesale for $$3,300,$ terms $\frac{1}{10},\frac{n}{30}.$

May $3$ Pays cash for freight costs of $$200$ on books purchased from Readers.

May $5$ Returns books with a cost of $$400$ 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 $$4,000$ on account.

$2.$ Assume that payment to Readers is made on May $24$ instead of May $10.$ Record this payment. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

Record payment of the full amount due to Readers.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$May $24,,,],[,,,]]$