Record the return of books with a cost of $300 to Readers because part of...

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Accounting

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Record the return of books with a cost of $300 to Readers because part of the order is incorrect. Note: Enter debits before credits. Record payment of cash for freight costs of $230 on books purchased from Readers. Note: Enter debits before credits. Record payment of the full amount due to Readers. Record purchase of books on account from Readers Wholesale for $3,600, rems 1/10,n/30. Notet thter debits before credits. Record the sale of all book inventory purchased on May 2 (less those returned on May 5) for $4,300 on account. Note: Enter debits before credits. Littleton Bools has the following transactions during May. May 2 Purchasen bookn on account fron Rasers Wolesale fot $3,600, terms 1/10,n/30. May 3 Payn can for freight costs of $230 on books purchased fron Readers. May 5 ineturan books with a cost of $300 to fleaders becase part of the order is incorrect. Kay io payn the tull anount doe to meaderil. May 30 Selis all books porchased on Hay 2 , (1eal thone feturaed on May 5) for $4,300 on account. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. 2. Record the period-end odjusting entry to cost of goods sold on May 31 , assuming the company has no beginning or ending inventory. Complete this question by entering your answers in the tabs below. Record the transactions of Uttieton Bools, assuming the company uses a periodic inventory system. (If no entry is required for a transactionvevent, select "No Journal Entry Required" in the first account field,) Record cost of inventory sold. Note: Enter debits before credits

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