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Bridgeport's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, 1/30 to all of its customers. During the month of June,

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Bridgeport's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, 1/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 3 6 9 15 17 Purchased books on account for $ 1,120 (including freight) from Catlin Publishers, terms 2/10, 1/30, Sold books on account to Garfunkle Bookstore for $ 1,150. The cost of the books sold was $ 720. Received $ 20 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full Received payment in full from Garfunkle Bookstore. Sold books on account to Bell Tower for $4,300. The cost of the merchandise sold was $ 680. Purchased books on account for $ 790 from Priceless Book Publishers, terms 1/15,1/30. Received payment in full from Bell Tower. Pald Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,240. The cost of the merchandise sold was $ 820, Granted General Bookstore $ 130 credit for books returned costing $ 80. 20 24 26 28 30 Journalize the transactions for the month of June for Bridgeport Warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 125.53.) Date Account Titles and Explanation Debit Credit June 1 1120 1120 June 3 1150 1150 (To record credit sale) June 3 720 720 (To record cost of merchandise sold) June 6 20 20 June 2 1100 June 9 1100 22 1078 June 15 1150 1150 June 17 1300 1300 (To record credit sale) June 17 680 680 (To record cost of merchandise sold) June 20 790 790 June 24 1274 June 24 1274 26 1300 June 26 790 7.9 I 7821 June 28 1240 1240 (To record credit sale) June 28 820 820 (To record cost of merchandise sold) June 30 130 130 (To record cost of merchandise sold) June 30 130 130 (To record merchandise returned) June 30 80 80 (To record cost of merchandise returned)

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