6-3

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 $3,500, terms 2/10, n/30. Nay 3 Pays cash for freight costs of $220 on books purchased from Readers. May 5 Returns bookn Whth a cost of $300 to Readers because part of the order fs incorrect. May 10 rays the full amount due to Readers. May 30 sells al1 books parchased on May 2 (less those returned on May 5 ) for $4,200 on account. rercise 6-9 (Algo) Part 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 ansaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record payment of the full amount due to Readers. Noter Enter debits before credits