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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

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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 Purchased books on account for $1,445 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $1,100. The cost of the merchandise sold was $950. 6 Received $45 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $1,100. The cost of the merchandise sold was $800. 20 Purchased books on account for $711 from Priceless Book Publishers. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $1,550. The cost of the merchandise sold was $910. 30 Granted General Bookstore $290 credit for books returned costing $70. Prepare a tabular summary to record the transactions for the month of June for Marigold Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses

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