Powell Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,040 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise 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 Garfunkel 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 $720 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 $1,300. The cost of the merchandise sold was $780. 30 Granted General Bookstore $130 credit for books returned costing $80. Prepare a tabular summary to record the transactions for the month of June for Powell Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) Cash Accts. Rec. Inv. Accts. Pay. June 1 $ $ $ $ 3 6 9 15 17 20 24 26 28 30 Retained Earnings Common Stock Rev. Exp. $ Cost of goods sold Sales returns & allowances Bad debt expense Accounts receivable Sales revenue