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Bridgeport's 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
Bridgeport's 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 $930 (including freight) from Catlin Publishers, terms 2/10, n/30. 3 Sold books on account to Garfunkle Bookstore for $1,320. The cost of the books sold was $730. 6 Received $30 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkle Bookstore. 17 Sold books on account to Bell Tower for $1,200. The cost of the merchandise sold was $710. 20 Purchased books on account for $720
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