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Pina Colada Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month June, the following merchandising transactions

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Pina Colada Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month June, the following merchandising transactions occurred. June 1 Purchased books on account for $3,065 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $1,750. The cost of the merchandise sold was $850. 6 Received $65 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 $1,750. The cost of the merchandise sold was $950. 20 Purchased books on account for $850 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 $2,950. The cost of the merchandise sold was $920. 28 Sold books on account to General Bookstore for $2,950. The cost of the merchandise sold was $920. 30 Granted General Bookstore $240 redit for bks returned costing $55. Prepare a tabular summary to record the transactions for the month of June for Pina Colada Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negotive omounts using either o negative sign preceding the number es. -45 or parentheses es. (45). Assets Liabilities + , Accts. Rec. Inv. $ $ - Accts. Pay. Commo 5 s receding the number e 8.45 or parentheses eg. (45).J preceding the number e 8.45 or porentheses e. 8 . (45).) 17 20 24 26 28 30 26 28 30

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