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6 Restu Book Store distributes hard cover books to retail stores and extend credit terms of n/30 to all of its customers. During the month

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6 Restu Book Store distributes hard cover books to retail stores and extend credit terms of n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. Date Transactions June 1 Purchased 400 books on account for RM6 each from Logan Publisher with credit terms 2/10, n/30 3 Sold 240 books for RM10 each to Reading Rainbow, on account. The cost of each book is RM6. 6 Returned 20 books to Logan Publisher, RM 6 each. This is due to wrong book title. Restu received credit of RM120 for this transaction. Paid Logan Publisher in full, less discount 10 Sold 80 books for RM10 each to Cheap Book, on account. The cost of each book is RM6. 20 Received full payment from Reading Rainbow by cash. 22 Received payment from Cheap Book by cash. 30 Sold 30 books at RM10 each to Willey Bookstore by cash. The cost of each book is RM6. Required: Ending Inventory : RM134 a) Joumalize the June's transactions by using periodic inventory system. b) Post to accounts and prepare a trial balance as at 30th June 2018. c) Prepare the Statement of Profit or Loss for the month ended 30th June 2018. 9

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