what is the last journal entry? (#5)

Exercise 8-2 (Algo) Periodic inventory system; journal entries [LO8-1] Specialty Store uses a periodic inventory system. The following are some inventory transactions for the thonth of May: 1. Specialty Store purchased inventory on account for $5,400. Freight charges of $500 were paid in cash. 2. Specialty Store returned some of the inventory purchased in transaction (1). The cost of the inventory was $800 and $pecialty Store's account was credited by the supplier. 3. Inventory costing $3,000 was sold for $5,600 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