Martinez's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of May, Martinez's inventory consisted of books purchased for $1,600. During June, the following merchandising transactions occurred. June 1 3 6 9 15 17 Purchased books on account for $1,300 from Kline Publishers, FOB destination, terms 1/10, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. Sold books on account to Reading Rainbow for $2,900. The cost of the books sold was $940. Received $100 credit for books returned to Kline Publishers. Paid Kline Publishers in full, less discount. Received payment in full from Reading Rainbow. Sold books on account to Blanco Books for $1,700. The cost of the books sold was $1,020. Purchased books on account for $1,200 from Dietz Publishers, FOB destination, terms 1/15, n/30. The appropriate par also made a cash payment of $60 for the freight on this date. Received payment in full from Blanco Books. Paid Dietz Publishers in full, less discount. Sold books on account to Reddy Bookstore for $1,200. The cost of the books sold was $750. Granted Reddy Bookstore $120 credit for books returned costing $72. 20 24 26 28 30 Martinez's Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. Journalize the transactions for the month of June for Martinez's Book Warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit June 1 Inventory 1300 Accounts Payable 1300 June 3 Accounts Receivable 2900 Sales Revenue 2900 (To record credit sale) June 3 Cost of Goods Sold 940 Inventory 940 (To record cost of merchandise sold) June 6 Accounts Payable 100 Inventory 100 June 9 V Accounts Payable 1200 Inventory Cash June 15 Cash Accounts Receivable June 17 Accounts Receivable June 17 Accounts Receivable Sales Revenue (To record credit sale) June 17 Cost of Goods Sold Inventory (To record cost of merchandise sold) June 20 Inventory Accounts Payable June 24 Cash Accounts Receivable Sales Discounts June 26 Accounts Payable Inventory Cash June 28 Accounts Receivable Sales Revenue (To record credit sale) June 28 Cost of Goods Sold Inventory (To record cost of merchandise sold) June 30 Sales Returns and Allowances Accounts Receivable (To record merchandise returned (To record credit sale) June 28 Cost of Goods Sold Inventory (To record cost of merchandise sold) June 30 Sales Returns and Allowances Accounts Receivable (To record merchandise returned) June 30 Inventory Cost of Goods Sold (To record cost of merchandise returned)