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 $1,065 (including freight) from Catlin Publishers, terms 2/10, 1/30. 3 Sold books on account to Garfunkel Bookstore for $1,500. The cost of the merchandise sold was $700. 6 Received $65 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 $1,900. The cost of the merchandise sold was $750. 20 Purchased books on account for $800 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 $1,250. The cost of the merchandise sold was $810. 30 Granted General Bookstore $270 credit for books returned costing $65. V v (To record sale of books on account) V (To record cost of books sold) V > (To record sale of books on account) (To record cost of merchandise sold)