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Blossom 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

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Blossom 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 $1,030 (including freight) from Catlin Publishers, terms 2/10, n/30. 3 Sold books on account to Garfunkel Bookstore for $800. 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, terms 1/15, n/30. 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. June 28 Accounts Receivable Sales Revenue (To record sale of books on account) June 28 Cost of Goods Sold Inventory (To record cost of books sold) June 30 Sales Returns and Allowances Accounts Receivable (To record credit granted to General Bookstore for returned goods) June 30 Inventory Cost of Goods Sold Journalize the transactions for the month of June for Blossom Warehouse, using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Inventory (To record cost of merchandise sold) June 20v Inventory Accounts Payable June 24 cash Sales Discounts Accounts Receivable June 26 Accounts Payable Inventory Cash June 28 Accounts Receivable June 6v Accounts Payable Inventory June9AccountsPayable Inventory Cash June 15 June 17 Accounts Receivable Sales Revenue (To record sale of books on account) June 17 Cash Accounts Receivable Accounts Receivable Sales Revenue Cost of Goods Sold 30

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