Required Information [The following information applies to the questions displayed below.] A company has the following transactions during May. May 2 Purchases books on account from Readers Wholesale for $3,200, terms 2/10, n/30. May 3 Pays cash for freight costs of $190 on books purchased from Readers. May 5 Returns books with a cost of $250 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 $3,900 on account. 2. Record the period-end adjustment to cost of goods sold on May 31, assuming the company has no beginning or e no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) No 1 Data May 31 Cost of Goods Sold Purchase Discounts Purchase Returns Purchases Freight-In Answer is not complete. General Journal Debit Credit 3,200 59