Kimmel, Financial Accounting, 8e FINANCIAL ACCOUNTING (201/207/703) Gradebook ORION nment Problem 5-2A Powell warehouse distributes hardback books to retail stores and extends credit terms of 4/10, ny30 to all of its customers. During the month of June, the fowowing merchandising transactions occurred. June 1 Purchased books on account for $3,065 (including freight) from Catlin Publishers, terms 4/10, 30. 3 Sold books on account to Garfunkel Bookstore for $1,750. The cost of the merchandise sold was $850. 6 Received $65 credit for books returned to Catiin Publishers. 9 Paid Catlin Publishers n full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for si,750. The cost of the merchandise sold was s950. 20 Purchased books on account for s8so from Priceless Book Publishers, terms 1/15, w30. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full, sg20. 28 sold books on account to General Bookstore for s2,950. The cost of the merchandise sold was 30 Granted General Bookstore $240 credit for books returned costing s55. perpetual inventory system, entry required select "No Record amount entered. not indent manuaayo the transactions for the month of June for Powell warehouse, using a 15.222.) ccount titles o for the amounts, Credit accou decimal places eg, Journal entries in the order presented in problem. Round answers to the Account Titles and Explanation