Required information Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) [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 $3,100, terms 2/10,n/30. May 3 Pays cash for freight costs of $180 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 $3,800 on account. xercise 6-9 (Algo) Part 1 sequired: - Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system. (If no entry is required for a ransaction/event, select "No Journal Entry Required" in the first account field.)
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