P$5-1$A Joufnakre purchase and sales transactions under a perpetual inventory system

Powell's Warehouse distributes hardcover books to retail stores and extend credit terms of $\frac{2}{10},\frac{n}{30}$ to all of its customers. During June, the following merchandising transactions occurred.

June $1$ Purchased books on account for $$1,040$ from Catlin Publishers, terms $2/10,$ n$/30.$

The appropriate party also made a cash payment of $$50$ for the freight on this date.

Sold books on account to Garfunkle Bookstore for $$1,200.$ The cost of the books sold was $$720.$

Received $$40$ credit for books returned to Catlin Publishers.

Paid Catlin Publishers in full.

Received payment in full from Garfunkle Bookstore.

sold books on account to Bell Tower for $$1,200.$ The cost of the merchandise sold was $$730.$

Purchased books on account for $$800$ from Priceless Book Publishers, terms $\frac{1}{15},\frac{n}{30}.$

Received payment in full from Bell Tower.

Paid Priceless Book Publishers in full.

Sold books on account to General Bookstore for $$1,300.$ The cost of the books sold was $$780.$

Granted General Bookstore $$130$ credit for books returned costing $$80.$

Instructions

Journalize the transactions for the month of June for Powell's Warehouse using a perpetual inventory system.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a $"?".$