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Kern's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 2/10, 1/30 to all of its customers. At the end of

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Kern's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 2/10, 1/30 to all of its customers. At the end of May, Ker's inventory consisted of BOOKS purchased for $1,800. During June, the following merchandising transactions occurred. June 1 purchased books on account for $1,600 from birsted Publishers, FOB destination, terms 2/10, 1/30. The appropriate party atne made a cash payment of $30 for the freight an 3 Sold books on account to Reading Rainbow for $2,500. The cost of the books sold was $1.440, 6. Received $100 credit for books returned to Binsfeld Publishers. 9 Paid fold Publishers in fue, les discount. 15 Received payment in full from Reading Rainbow 17 Soid books on account to Roop Books for $1,800. The cost of the books told was $1,000 20 Purchased hooks on account for $1,000 from McGinn Publishers, Fob cestination, terms 2/15, W30. The appropriate party also made a cash payment of 60. for the tregton date 24 Received payment in full from Rapp Book 26 Paid McGinn Publishers in full, les discount 28 Sold book on account to to ten tookstore for $1,000. The cost of the books sold was 5970, 30 Granted Boten Bookstore $120 credit for books returned costing 972 Kern's Book Warehouse's chart of accounts includes the following: No. 101 Cuin, No 112. Accounts Receivable, No. 120 Inventory, Ne: 201 Accounts Payabi, No: 401 San No 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No SOS cost of Goods Sold Journalize the transactions for the month of June for Kem's took Warehouse using a perpetunt inventory system (Credit account totes are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem Journaize the transactions or the month or bune Tor Ker's DOOK Warenduse using a perpecuar inventory system. entered. Do not indent manually. Record Journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) > > (To record credit sale) > (To record cost of merchandise sold) (To record credit sale) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned)

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