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Bridgeport Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions

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Bridgeport 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 Purchased books on account for $ 1,280 from Catlin Publishers. Sold books on account to Garfunkel Bookstore for $ 1,100. The cost of the merchandise sold was $ 800. 3 6 Received $ 80 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. 9 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $ 1,100. The cost of the merchandise sold was $ 950. 20 Purchased books on account for $ 800 from Priceless Book Publishers. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $ 1,550. The cost of the merchandise sold was $ 800. 30 Granted General Bookstore $ 200 credit for books returned costing $ 70. Prepare a tabular summary to record the transactions for the month of June for Bridgeport Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative

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