Ayayal's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $970 from Catlin Publishers, terms 2/10, n/30. 3 Sold books on account to Garfunkle Bookstore for $1,100. The cost of the books sold was $710. 6 Received $70 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkle Bookstore. 17 201 241 222222 Sold books on account to Bell Tower for $1,100. The cost of the merchandise sold was $790. Purchased books on account for $600 from Priceless Book Publishers, terms 1/15, n/30. Received payment in full from Bell Tower. Paid Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,230. The cost of the merchandise sold was $730. 26 28 30 Granted General Bookstore $120 credit for books returned costing $80. Type here to search Accounts Payable 600 June 24 Cash Sales Discounts Accounts Receivable June 26 Accounts Payable Inventory Cash