P5-1A Journalize purchase and sales transactions under a perpetual inventory system Powell's Warehouse distributes hardcover books to retail stores and extend credit terms of 2/10, n/30 to all of its customers. During June, the following merchandising transactions occurred. 4 3 D 9 Instructions O 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 "?". with 7 1 June 1 B 4 5 5 7 B 9 0 1 2 3 1 3 6 9 15 17 20 24 26 28 30 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 1/15,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. June 1 3 3 6 9 Account Account Account Account Account Account Account Account Account Account Account Value Value Value Value Value Value Value Value Value Value Value

B5. 1A lournalize purchase and soles transactions under a perpetual inventory system Poweli's Warehouse distributes hardcover books to retail stores and extend credit terms of 2/10,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. 3 Sold books on account to Garfunkle Bookstore for $1,200. The cost of the books sold was $720. 6 Received $40 credit for books returned to Catlin Publishers 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkle Bookstore. 17 Sold books on account to Bell Tower for $1,200. The cost of the merchandise sold was $730. 20 Purchased books on account for $800 from Priceless Book Publishers, terms 1/15, n/30. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $1,300. The cost of the books sold was $780. 30 Granted General Bookstore $130 credit for books returned costing $80. Instructions fournalize the transactions for the month of June for Powell's Warehouse using a perpetual inventory system