Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May: 1. Specialty Store purchased inventory on account for $6,200. Freight charges of $900 were paid in cash. 2. Specialty Store retumed some of the inventory purchased in transaction (1). The cost of the inventory was $1,200 and Specialty Store's account was credited by the supplier. 3. Inventory costing $3,400 was sold for $6,400 in cash. Required: Prepare the necessary journal entries to record these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2345. Record the merchandise purchased on account for $6,200. Note: Enter debits before credits