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2. On May 12, 2023 Kent Children's Bookstore purchased 5 Babar books on account for $3 each. On June 6, 2023 they purchased 2
2. On May 12, 2023 Kent Children's Bookstore purchased 5 Babar books on account for $3 each. On June 6, 2023 they purchased 2 more Babar books for $5 each for cash. Kent uses the perpetual inventory system. On June 7th, 6 Babar books were sold for $10 cash each, for a total sale of $60.00. Part A: Prepare the Journal Entry to record the purchase made on May 12, 2023 for the first five books on account. [10 points] Account Debit Credit Part B: Prepare the Journal Entry to record the purchase made on June 6, 2023 for the two books purchased for cash. points] Account Debit Credit [10 Part C: Prepare the Journal Entry to record the cash sale of June 7th. Be sure to record both the sale and cost of sale for the six books sold using the LIFO inventory method. [10 points] Account Debit 1 Credit
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