Blue Spruce Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Blue Spruce's inventory consists of 250 books purchased at $20 each. Blue Spruce uses a perpetual inventory system. During the month of June, the following merchandise transactions occurred: June 1 3 5 8 9 Purchased 170 books on account for $18 each from Reader's World Publishers, terms n/45. Sold 230 books on account to The Book Nook for $25 each, with an assumed average cost of $19, terms 2/10, n/45. Received a $162 credit for 9 books returned to Reader's World Publishers. Sold 100 books on account to Read-A-Lot Bookstore for $23 each, with an assumed average cost of $19, terms 2/10, n/45. Issued a $276 credit memorandum to Read-A-Lot Bookstore for the return of 12 damaged books. The books were determined to be no longer saleable and were destroyed. Purchased 130 books on account for $16 each from Read More Publishers, terms n/45. Received payment in full from The Book Nook. Received payment in full from Read-A-Lot Bookstore. Sold 125 books on account to Reader's Bookstore for $26 each, with an assumed average cost of $19, terms 2/10, n/45. Granted Reader's Bookstore a $390 credit for 15 returned books. These books were restored to inventory. Paid Reader's World Publishers in full. 11 12 17 22 25 29 Debit Credit Date Account Titles and Explanation June 1 Inventory 3060 Accounts Payable 3060 Accounts Receivable 5750 Sales 5750 (To record sales) Cost of Goods Sold 4370 Inventory 4370 (To record cost of goods sold) Accounts Receivable 5 162 Sales Returns and Allowances 162 Accounts Receivable 2300 Sales 2300 (To record sales) @ Cost of Goods Sold 1900 Inventory 1900 (To record cost of goods sold) Sales Returns and Allowances 9 276 Accounts Receivable 276 11 Inventory Accounts Payable 2080 12 Ceah 5750 Accounts Receivable Account Receivable 1. T . DE TITATS DE TO CITADE AL AL ALETTAT 5750 17 Cash 2300 Accounts Receivable 2300 No Entry 22 Accounts Receivable 3250 Sales 3250 (To record sales) 22 Cost of Goods Sold 2375 2375 Inventory (To record cost of goods sold) Sales Return and Allowances 25 390 390 Accounts Receivable (To record sales returns 25 Inventory 390 390 Coat of Gooda Sold (To record cost of goods returned 29 Accounts Payable 3060 3060