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 $2,300, terms 2/10, n/30. May 3 Pays cash for freight costs of $100 on books purchased from Readers. May 5 Returns books with a cost of $300 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 $3,000 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.) X Answer is complete but not entirely correct. Date General Journal Debit Credit No 1 Accounts Payable Inventory X Cash May 24 2,000 60 1,940 X