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Cullumber's Book Warehouse distributes hardback books to retail stores and extends credit terms of 1 / 1 0 , n / 3 0 to all

Cullumber'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 $1,300 from Binsfeld Publishers, terms 2/10, n/30.3 Sold books on account to Reading Rainbow for $2,800. The cost of the books sold was $1,800.6 Received $200 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 $2,500. The cost of the merchandise sold was $1,500.20Purchased books on account for $2,500 from McGinn Publishers, terms 1/15, n/30.24Received payment in full from Rapp Books.26Paid McGinn Publishers in full.28Sold books on account to Baeten Bookstore for $1,200. The cost of the merchandise sold was $970.30 Granted Baeten Bookstore $170 credit for books returned costing $102.

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