P$5-1$B Jeremy's Book Warehouse distributes hardcover books to retail stores and extends

credit terms of $\frac{2}{10},\frac{n}{30}$ to all of its customers. At the end of May, Jeremy's inventory consisted

of books purchased for $$1,800.$ During June, the following merchandising transactions occurred.

June $1$ Purchased books on account for $$1,600$ from Davies Publishers, FOB destination,

terms $\frac{2}{10},\frac{n}{30}.$ The appropriate party also made a cash payment of $$50$ for the

freight on this date.

$3$ Sold books on account to Reading Rainbow for $$2,500.$ The cost of the books sold was

$$1,440.$

$6$ Received $$100$ credit for books returned to Davies Publishers.

$9$ Paid Davies Publishers in full, less discount.

$15$ Received payment in full from Reading Rainbow.

$17$ Sold books on account to Lapidus Books for $$1,800.$ The cost of the books sold was

$$1,080.$

$20$ Purchased books on account for $$1,500$ from Fahey Publishers, FOB destination, terms

$\frac{2}{15},\frac{n}{30}.$ The appropriate party also made a cash payment of $$50$ for the freight on

this date.

$24$ Received payment in full from Lapidus Books.

$26$ Paid Fahey Publishers in full, less discount.

$28$ Sold books on account to Carlyle Bookstore for $$1,400.$ The cost of the books sold was

$$850.$

$30$ Granted Carlyle Bookstore $$120$ credit for books returned costing $$72.$

Jeremy'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.

Instructions

Journalize the transactions for the month of June for Jeremy's Book Warehouse using a per$-$

petual inventory system.