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Ayayai Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising

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Ayayai Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,030 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $1,000. The cost of the merchandise sold was $700. 6 Received $30 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $1,000. The cost of the merchandise sold was $700. 20 Purchased books on account for $700 from Priceless Book Publishers. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $1,000. The cost of the merchandise sold was $700. 30 Granted General Bookstore $100 credit for books returned costing $30. Prepare a tabular summary to record the transactions for the month of June for Ayayai Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the numb e.g. -45 or parentheses e.g. (45).) June 1 $ 3 Cash $ Assets Liabilities Accts. Rec. Inv. Accts. Pay. + Common Stock $ Rev. Stockholders' Equity Retained Earnings Exp. 6 9 h 17 15 2 2 2 2 30

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