iew Policies Current Attempt in Progress Sunland's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10./30 to all of its customers. At the end of May, Sunland's inventory consisted of books purchased for $2.000. During June the following merchandising transactions occurred. June 1 3 6 9 15 17 20 Purchased books on account for $1.700 from Binsfeld Publishers, FOB destination, terms 2/10./30. The appropriate party also made a cash payment of $40 for the freight on this date. Sold books on account to Reading Rainbow for $2,200. The cost of the books sold was 51.500. Received $200 credit for books returned to Binsfeld Publishers. Paid Binsfeld Publishers in full. less discount. Received payment in full from Reading Rainbow. Sold books on account to Rapp Books for $2.400. The cost of the books sold was $1440 Purchased books on account for $2.400 from McGinn Publishers. FOB destination terms 1/15.1/30. The appropriate party also made a cash payment of $50 for the freight on this date. Received payment in full from Rapp Books. Paid McGinn Publishers in full, less discount Sold books on account to Baeten Bookstore for $1,300. The cost of the books soid was $920 Granted Baeten Bookstore $110 credit for books returned costing $66. 24 26 28 30 Sunland's Book Warehouse's chart of accounts includes the following: No 101 dash No 112 Accounts Receivable, No. 120 avemory No. 201 Accounts Payable. No. 401 Sales Revenue, No. 412 Sales Returns and Allowances. No 414 Sales Discounts and NOSOS Cost of Goods Sold Bumalize the transactions for the month of June for Sunland's Book Warehouse with a perpetual inventory system (Creditoccount ities are automatically indented when amount is entered. Do not Indent manually Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation