Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) The following information applles to the questions displayed befow] Litleton Books has the following transactions during May. Way 2 Purchases books on account fron Readers wholesale for 32,560 , terms 2/10, o/30. Hey 3 . Pays sash for freight costs of $120 on books purchased fron Readers. noy 5 lleturns books with a cost of 5250 to hedders because part of the order is incorrect. Tay topays the tull amount due to headees. May sosells al1 books purchased on hoy 2 (less thone returned on Hay -5) for 83,200 on account. Exercise 6.9 (Algo) Part 1 1. Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system. (if no entry is required for a Required: tronsaction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet 2 6 Record purchase of books on account from Readers Wholesale for $2.500, terms 2/10,n/30. Note: Enter debits before cradits. Journal entry worksheet Record payment of cash for freight costs of $120 on books purchased from Readers. Note: Enter debits before credits. Journal entry worksheet 6 1 Record the return of books with a cost of $250 to Readers because part of the order is incorrect. Nata Enter debits before credites Journal entry worksheet 6 1 Record payment of the full amount due to Readers. Notei Enter debits before credits. Record the sale of all book inventory purchased on May 2 (less those returned on May 5) for $3,200 on account. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 Record cost of inventory sold. Nintar Enter debits before credits. Journal entry worksheet Record payment of the full amount due to Readers. Note: Enter debits before credits