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Grouper Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June. the following merchandising transactions

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Grouper Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June. the following merchandising transactions occurred June 1 3 6 Purchased books on account for $2.975 from Catlin Publishers Sold books on account to Garfunkel Bookstore for $2,050. The cost of the merchandise sold was $700. w Received $75 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full Receved payment in full from Garfunkel Bookstore Sold books on account to Bell Tower for $2,050. The cost of the merchandise sold was $800, 9 15 17 20 Purchased books on account for $700 from Priceless Book Publishers 24 Received payment in full from Bell Tower 26 Paid Priceless Book Publishers In full 28 Sold books on account to General Bookstore for $2 500 The cost of the merchandise sold was $860. Granted General Bookstore $130 credit for books returned costing 550 30 Prepare a tabular summary to record the transactions for the month of June tor Grouper Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses (Enter negative amounts using either a negative sign precedire the number as 45 or parentheses es. (45)

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