Maia's Bike Shop uses the perpetual inventory system and had the following transactions:
May 1: Purchased $4,000 of inventory. Credit terms 2/10, n/30.
May 3: Sold poducts to a customer on credit for $600, terms 2/10, n/30. The cost was $350
May 4: Returned $200 of defective purchases from May 1.
May 11: Paid the amount due on May 1 purchase.
May 8: Customer from May 3 returned products to us we sold to them for $100 with a cost of $55.
May 13: Customer from May 3 paid us in full taking the discount.
Prepare the required journal entries that Maia's Bike Shop must make to record these transactions.