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Crane's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, 130 to ml of its customers. At the end of

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Crane's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, 130 to ml of its customers. At the end of May, Crane's Inventory consisted of books purchased for $1,500. During June, the following merchandising transactions occurred June 1 Purchased books on account for $1.400 from Binsfeld Publishers, FOB destination, terms 2/10, 1/30. The appropriate party also made a cash payment of $50 for the freight on this date. 3 Sold books on account to Reading Rainbow for $2.400. The cost of the books sold was $1,600 6 Received $150 credit for books returned to Binsfeld Publishers. 9 Paid Binsfeld Publishers in full, less discount. 15 Received payment in fut from Reading Rainbow 17 Sold books on account to Rapp Books for $1,700. The cost of the books sold was $1,020 20 Purchased books on account for $1,700 from McGinn Publishers, FOB destination terms 1/15, 130. The appropriate party also made a cash payment of $60 for the freight on this date 24 Received payment in full from Rapp Books 26 Pald Mcdinn Publishers in fuit, less discount 28 Sold books on account to Baten Bookstore for $1,300. The cost of the books sold was 1970 30 Granted Bacten Bookstore $160 credit for books returned costing $96. Crane's Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No 120 Inventory, No. 20 Accounts Payabia, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No 414 Sales Discounts, and No SOS Cost of Goods Sold Journalize the transactions for the month of June for Crane's Book Warehouse using a perpetual inventory system (Credit account titles are automatically indented when amount is entered

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