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Ivanhoe Warehouse distributes hardback books to retail stores and extends credit terms of 2/10,n/30 to all of its customers. During the month of June, the

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Ivanhoe Warehouse distributes hardback books to retail stores and extends credit terms of 2/10,n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,855 (including freight) from Catlin Publishers, terms 2/10, 1/30. 3 Sold books on account to Garfunkel Bookstore for $1,100. The cost of the merchandise sold was $750. 6 Received $55 credit for books returned to Catlin Publishers, 9 Paid Catlin Publishers in full 15 Received payment in full from Garfunkel Bookstore Sold books on account to Bell Tower for $1.450, terms of 2/10,n/30. The cost of the merchandise sold was 5700 20 Purchased books on account for $900 from Priceless Book Publishers. terms 1/15,30 24 Received payment in full less discount from Bell Tower, 26 Paid Priceless Book Publishers in full Sold books on account to General Bookstore for $2.050. The cost of the merchandise sold was $970, 30 Granted General Bookstore $240 credit for books returned costing $70. 28 Journalize the transactions for the month of June for Ivanhoe Warehouse, using a perpetual inventory system. (if no entry is required, select 'No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually. Record journal entries in the order presented in the problem.) Date Debit Account Titles and Explanation Credit (To record sale of books on account) (To record cost of books sold) (To record sale of books on account) (To record cost of merchandise sold) (To record cost of merchandise sold) (To record sale of books on account) (To record cost of books sold) (To record sale of books on account) (To record cost of books sold) (To record credit granted to General Bookstore for returned goods) (To record cost of books returned) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit

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