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Carla Vista Warehouse distributes hardback books to retail stores and extends credit terms of 2 1 0 , n 3 0 to all of its

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Carla Vista Warehouse distributes hardback books to retail stores and extends credit terms of 210,n30 to all of its customers.
During the month of June, the following merchandising transactions occurred.
June 1 Purchased books on account for $1,755(including freight) from Catlin Publishers, terms 210,n30.
3 Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise sold was $850.
6 Received $55 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 $1,550. The cost of the merchandise sold was $850.
20 Purchased books on account for $900 from Priceless Book Publishers, terms 315,n30.
24 Received payment in full from Bell Tower.
26 Paid Priceless Book Publishers in full.
28 Sold books on account to General Bookstore for $2,650. The cost of the merchandise sold was $950.
30 Granted General Bookstore $210 credit for books returned costing $30.
Journalize the transactions for the month of June for Carla Vista Warehouse, using a perpetual inventory system. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered.
Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Debit
Credit
Inventory
Accounts Payable
Accounts Receivable
[
(To record sale of books on account)
[
(To record cost of books sold) Inventory
]
Accounts Payable
Cash
Inventory
Cash
Accounts Receivable
Accounts Receivable
(To record sale of books on account)
(To record cost of merchandise sold)
Accounts Payable
Accounts Receivable
Accounts Payable
]
]
]
1
Sales Discounts Accounts Receivable
Accounts Payable
Accounts Receivable
Sales Revenue
(To record sale of books on account)
_
(To record cost of books sold)
(To record credit granted to General Bookstore for
returned goods)
Cost of Goods Sold
(To record cost of books returned)
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