Powell Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred.

June 1		Purchased books on account for $2,160 (including freight) from Catlin Publishers, terms 2/10, n/30.
3		Sold books on account to Garfunkel Bookstore for $1,700. The cost of the merchandise sold was $800.
6		Received $60 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 $1,700. The cost of the merchandise sold was $950.
20		Purchased books on account for $800 from Priceless Book Publishers, terms 2/15, 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 $1,450. The cost of the merchandise sold was $910.
30		Granted General Bookstore $260 credit for books returned costing $90.

Powell Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. Purchased books on account for $2,160 (including freight) from Catlin Publishers, terms 2/10, n/30. June 1 Sold books on account Garfunkel Bookstore for $1,700. The cost of the merchandise sold was $800. 6 Received $60 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 Bell Tower for $1,700. The cost of the merchandise sold was $950. Purchased books on account for $800 from Priceless Book Publishers, terms 2/15, n/30. 20 Received payment in full from Bell Tower. 24 26 Paid Priceless Book Publishers in full Sold books on account to General Bookstore for $1,450. The cost of the merchandise sold was $910. 28 30 Granted General Bookstore $260 credit for books returned costing $90. Journalize the transactions for the month of June for Powell Warehouse, using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 0 decimal places e.g. 15,222) Date Account Titles and Explanation Debit Credit June 1 2160 Inventory Accounts Payable 2160 June 3 Accounts Receivable 1700 Sales Revenue 1700 (To record credit sale) Cost of Goods Sold 800 Imantor June 6 Accounts Payable 60 Inventory 60 June 9 Accounts Payable 2100 Inventory 8A Cash 2016 June 15 Cash 1700 Accounts Receivable 1700 June 17 Accounts Receivable 1700 Sales Revenue 1700 (To record credit sale) Cost of Goods Sold 950 Inventory 950 (To record cost goods sold) June 20 800 Inventory Accounts Payable 800 June 24 Cash 1632 Sales Discounts Accounts Receivable 1700 June 26 Accounts Payable 800