Record transactions using a perpetual system (LO6-5) Skip to question [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 $4,100, terms 2/10, n/30. May 3 Pays cash for freight costs of $280 on books purchased from Readers. May 5 Returns books with a cost of $400 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 $4,800 on account. Exercise 6-9 (Algo) Part 1 Required: 1. Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system