Question
Current Attempt in Progress. Culiumber Warehouse distriautes hardback books ta retail stores and extends credit terms of 4//10, n/30 to all of its custamers. During
Current Attempt in Progress. Culiumber Warehouse distriautes hardback books ta retail stores and extends credit terms of 4//10, n/30 to all of its custamers. During the month of Jure, the following merchandising tranaactions accurred, June 1 Purchased books on account far $3,065 [ncluding freight) from Catlin Publisters, terms 4//10,n//30. Sold books on account to Garfunkel Bockstore for $1000. The cost af the merchandise sold was $850. Received $65 credit for boaks returned to Catlin Publishers. Paid Catin Publishers in fult Received payment in fullifrom Garfunhel Boobstore. Sold books on account to Bell Tawer for $1,750. The cost of the merchandise sold was $950 Purchased books on account for $900 from Priceless Book Publisthers, terms 1//15,n//30. Receive
Current Attempt in Progress Cullumber Warehouse distributes hardback books to retail stores and extends credit terms of 4/10,n/30 to all of its custamers. During the month of June, the following merchandising transactions accurred. June 1 Purchased books on account for $3,065 (including freight) from Catlin Publishers, terms 4/10, n/30. 3 Sold books on account to Garfunkel Bookstore for $1,000. The cost of the merchandise sold was $850. 6 Received \$65 credit for boaks 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 $1,750. The cost of the merchandise sold was $950. 20 Purchased books on account for $900 fram Priceless Boak Publishers, terms 1/15,n/30. 24 Received payment in full from Bell Tawer. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $2,950. The cost af the merchandise sold was $920. 30 Granted General Bookstore $240 credit for books returned costing $55. Journalize the transactions for the month of June for Cullumber Warehouse, using a perpetual irwentory system. (If no entry is required, select 'No Entry" for the account titles and enter O for the amounts. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. Record journal entries in the arder presented in the problem. List all debit entries before credit entries.)Step by Step Solution
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