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Required information [The following information applies to the questions displayed below.) 4 Littleton Books has the following transactions during May. May 2 Purchase books on

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Required information [The following information applies to the questions displayed below.) 4 Littleton Books has the following transactions during May. May 2 Purchase 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 Days 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. sk 4 nces 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.) View transaction list Journal entry worksheet 6 Record cost of Inventory sold, Journal entry worksheet BOOK Record payment of the full amount due to Readers. Hint Terences Note: Enter debits before credits Credit Date May 10 Debit 3,010 General Journal Accounts Payable Cash Inventory 2,950 60 Record entry Clear entry View general Journal Record the cash paid on account. Note: Enter debits before credits. Date General Journal Debit Credit May 24 Record entry Clear entry View general journal

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