Marigold 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 9 15 17 Purchased books on account for $1,445 from Catlin Publishers. Sold books on account to Garfunkel Bookstore for $1,100. The cost of the merchandise sold was $950. Received $45 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. Received payment in full from Garfunkel Bookstore. Sold books on account to Bell Tower for $1,100. The cost of the merchandise sold was $800. Purchased books on account for $950 from Priceless Book Publishers. Received payment in full from Bell Tower. Paid Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,550. The cost of the merchandise sold was $910. Granted General Bookstore $290 credit for books returned costing $70. 20 24 26 28 30 + Accts. Rec Iny. Acc 7 LA Liabilities Stockholders' Equity Retained Earnings Exp. Accts. Pay. Common Stock + Rev. $ $ $ $ Stockholders' Equity Retained Earnings Exp. Common Stock + Rev. $ $ $ Stockholders' Equity Retained Earnings Exp. . Common Stock Rev. $ $ $ Sales returns & allowances Cost of goods sold Bad debt expense Sales revenue Accounts receivable