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 $4,600, terms 1/10,n/30. May 3 pays cash for freight costs of $270 on books purchased from Readers. May 5 Returns books with a cost of $300 to Readers because part of the order is incorrect. Hay 10 Pays the full amount due to Readers. May 30 sells a11 books purchased on May 2 (less those returned on May 5 ) for 54,700 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 fo transection/event, select "No Journal Entry Required" in the first account field.)