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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
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.
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 3 6 9 15 17 Purchased books on account for $1,030 from Catlin Publishers. Sold books on account to Garfunkel Bookstore for $1,000. The cost of the merchandise sold was $700. Received $30 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. Received payment in full from Garfunkel Bookstore. Sold books on account to Bell Tower for $1,000. The cost of the merchandise sold was $700. Purchased books on account for $700 from Priceless Book Publishers. Received payment in full from Bell Tower. Paid Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,000. The cost of the merchandise sold was $700. Granted General Bookstore $100 credit for books returned costing $30. 20 24 26 28 30 Prepare a tabular summary to record the transactions for the month of June for Ayayai Warehouse using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Lia Cash Cash + Accts. Rec. + Inv. = Acc June 1 $ $ $ $ 3 6 9 15 17 20 30 Liabilities Stockholders' Equity Retained Earnings Exp. Accts. Pay. Common Stock + Rev. $ $ $ scquity Retained Earnings Exp. + Rev. $ $
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