** Problem 3 (2 marks): DTP Book Store distributes hardcover books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. At the end of May, DTP's inventory consisted of books purchased for $1,800. During June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,600 from Youth Publishers, FOB destination, 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 TNI Chain for $2,500. The cost of the books sold was $1,440. 6 Received $100 credit for books returned to Youth Publishers. 9 Paid Youth Publishers in full, less discount. 15 Received payment in full from TNI Chain. 17 Sold books on account to Suset Books for $1,800. The cost of the books sold was $1,080. 20 Purchased books on account for $1,500 from Education Publishers, FOB destination, terms 2/15, n/30. The appropriate party also made a cash payment of $50 for the freight on this date. 24 Received payment in full from Suset Books. 26 Paid Education Publishers in full, less discount. 28 Sold books on account to Reading Cafe for $1,400. The cost of the books sold was $850. 30 Granted Reading Cafe $120 credit for books returned costing $72. DTP Book Store's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. Required: Journalize the transactions for the month of June for DTP Book Store using a perpetual inventory system