Crane's Book Warehouse distributes hardback books to retail stores and extends credit terms of 1/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,800 from Binsfeld Publishers, terms 2/10, n/30. 3 Sold books on account to Reading Rainbow for $3,000. The cost of the books sold was $1,500. 6 Received $100 credit for books returned to Binsfeld Publishers. 9 Paid Binsfeld Publishers in full. 15 Received payment in full from Reading Rainbow. 17 Sold books on account to Rapp Books for $2,400. The cost of the merchandise sold was $1,440. 20 Purchased books on account for $2,400 from McGinn Publishers, terms 1/15, n/30. 24 Received payment in full from Rapp Books. 26 Paid McGinn Publishers in full. June 1 3 Purchased books on account for $1,800 from Binsfeld Publishers, terms 2/10, n/30. Sold books on account to Reading Rainbow for $3,000. The cost of the books sold was $1,500. 6 Received $100 credit for books returned to Binsfeld Publishers. 9 Paid Binsfeld Publishers in full. 15 Received payment in full from Reading Rainbow. 17 20 20 Sold books on account to Rapp Books for $2,400. The cost of the merchandise sold was $1,440. Purchased books on account for $2,400 from McGinn Publishers, terms 1/15, n/30. 24 Received payment in full from Rapp Books. 26 Paid McGinn Publishers in full. 28 Sold books on account to Baeten Bookstore for $1,400. The cost of the merchandise sold was $970. 30 Granted Baeten Bookstore $130 credit for books returned costing $78. Question 7 of 7 -781 Journalize the transactions for the month of June for Crane's Book Warehouse using a perpetual inventory system. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation June 1 Inventory Accounts Payable June 3 Accounts Receivable Sales Revenue (To record credit sale) June 3 Cost of Goods Sold Inventory Debit 1800 3000 1500 Credit 1800 3000 1500 June 6 June 9 (To record cost of merchandise sold) Accounts Payable Inventory Accounts Payable Inventory Cash June 15 v Cash Accounts Receivable June 17 v Accounts Receivable 100 1700 3000 2400 100 104 1596 3000 Sales Revenue (To record credit sale) June 17 v Cost of Goods Sold June 20 Inventory (To record cost of merchandise sold) Inventory Accounts Payable June 24v Cash Sales Discounts 1440 2400 2400 1440 2400 June 24 Cash Sales Discounts Accounts Receivable June 26 Accounts Payable June 28 Inventory Cash Accounts Receivable Sales Revenue June 281 June 30 (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Sales Returns and Allowances June 30 Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned)