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PLEASE ADD GST TO EACH TRANSACTION IF NEEDED 22 points The Modern Bookstore distributes hardback books to retail stores and extends credit terms of 2/7,

PLEASE ADD GST TO EACH TRANSACTION IF NEEDED image text in transcribed
22 points The Modern Bookstore distributes hardback books to retail stores and extends credit terms of 2/7, w/ 30 to all of its customers. During the month of June the following inventory transactions occurred. June 2 Purchased 130 books for $6 each from Book World Publishers, torm 1/7. 30. Also made a cash payment to Fast Couriers of $60 for the freight on this date 3 Sold 140 books on account to the Book Nock for $12 each, 6 10 Books retumed to the Book World Publishers. Received $60 credit 9 Paid Book World Publishers the amount owing 28 Sold 110 books on account to Redears Bookstore for $12 each, 30 Granted Redears Bookstore $180 credit for 15 books retumed costing $90. The books were returned to Inventory Note: Add GST to each Transaction Required Journalise the transactions (with narrations) for the month of June for the Modem Bookstore using a perpetual inventory system. Assume the cost of each book sold was $6

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