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Cheyenne Book Warehouse distributes hardcover books to retail stores and extends credit terms of 3/10, 1/30 to all of its customers. At the end of

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Cheyenne Book Warehouse distributes hardcover books to retail stores and extends credit terms of 3/10, 1/30 to all of its customers. At the end of May, Cheyenne inventory consisted of books purchased for $1,700. During June, the following merchandising transactions occurred. June 1Purchased books on account for $1,600 from Kline Publishers, FOB destination terms 2/10, 1/30. The appropriate party also made a cash payment of $40 for the freight on this date. 3. Sold books on account to Reading Rainbow for $2,500. The cost of the books sold was $1.310, Received $100 credit for books returned to Kline Publishers Paid Kline Publishers in full, less discount Received payment in full from Reading Rainbow Sold books on account to Blanco Books for $2,000. The cost of the books sold was $990, 20 Purchased books on account for $1,600 from Dietz Publishers, FOB destination terms 3/15,6/30. The appropriate party also made a cash payment of $60 for the freight on this date Received payment in full from Blanco Books Pald Dietz Publishers in full, less discount. Sold books on account to Reddy Bookstore for $1.200. The cost of the books sold was $930. 30 Granted Reddy Bookstore $120 credit for books returned costing $70. 6 9 15 17 24 26 28 Cheyenne Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No, 201 Accounts Payable, No 401 Sales Revenue, No 412 Sales Returns and Allowances, No, 414 Sales Discounts, No. 510 Purchases, No. 512 Purchase Returns and Allowances, and No. 514 Purchase Discounts Cheyenne Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No 120 Inventory, No. 201 Accounts Payable, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts. No 510 Purchases, No. 512 Purchase Returns and Allowances and No. 514 Purchase Discounts Journalize the transactions for the month of June for Cheyenne Book Warehouse using a periodic inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.)

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