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Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) [The following information applies to...

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Accounting

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Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) [The following information applies to the questions displayed below.] Littieton Books has the following transactions during May. May 2 Purcheses books on account from Readers Wholesale for $3,400, terms 2/10,n/30. May 3 Pays cash for freight costs of $210 on books purchased from Readers. May 5 Returns bookit with a cost of $350 to Readern because part of the order in inicorrect. 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 $4,100 on account. cise 6.9 (Algo) Part 2 sume that payment to Readers is made on May 24 instead of May 10. Record this payment. (If no entry is required for a action/event, select "No Journal Entry Required" in the first account field.) lournal entry worksheet Record payment of the full amount due to Readers. ote: Enter debits before credits: Journal entry worksheet Record payment of the full amount due to Readers. Note: Enter debits before credits

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