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Flint BookWarehouse Ltd. distributes hardcover books to retail stores. At the end of May, Flint's inventory consists of 240 books purchased at $19 each. Return

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Flint BookWarehouse Ltd. distributes hardcover books to retail stores. At the end of May, Flint's inventory consists of 240 books purchased at $19 each. Return rates in the book industry are high, with Flint experiencing a 15% retumrate historically. During the month of June, the following merchandise transactions occurred: June 1 Purchased 160 books on account for $17 each from Reader's World Publishers, terms N/45. 3. Sold 250 books on account to The Book Nook for $25 each, with an average cost of $18, terms n/45. 5 Received a $170 credit for 10 books returned to Reader's World Publishers: 8 Sold 75 books on account to Read-A-Lot Bookstore for $25 each, with an averape cost of $18, terms n/45. 9 Issued a $325 credit memorandum to Read-A-Lot Bookstore for the return of 13 damaged books. The books were determined to be no longer saleable and were destroyed. 11 Purchased 130 books on account for $16 each from Read More Publishers, terms n/45. 12 Received payment in full from The Book Nook 17 Received payment in full from Read-A.Lot Bookstore 22. Sold 125 books on account to Reader's Bookstore for $25 each, with an averape cost of $18, terms 1/45. 25 Granted Reader's Bookstore a $400 credit for 16 returned books. These books were restored to inventory. 27 Paid Reader's World Publishers in full. (a) Record the June transactions on Flint Book Warehouse's books, assuming it uses a periodic inventory system. (List all debit entries before credit entries. Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter Ofor the amounts. Round answers to 0 decimal places, eg. 125) June9 Sales Returns and Allowances Accounts Recelvable June 11v Supplies Accounts Payable June 12 Cash Accounts Receivable June 17 Cash Accounts Recelvable June 22 Accounts Recelvable Sates Cost of Goods Sold June 25 Sales Returns and Allowances June 22 Accounts Receivable Sales. Cost of Goods Sold June 25 v Sales Returns and Allowances Accounts Recelvable June 29 Accounts Payable. Cash

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