Problem 5-1A Kern's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of May, Kern's inventory consisted of books purchased for S2,200. During lune, the following merchandising transactions occurred. June 1 Purchased books on account for s2,100 from Binsfeld Publishers, FoB destination, terms 2/10, nV30. The appropriate party also made a cash payment of $60 for the freight on this date. 3 Sold books on accou nt to Reading Rainbow for $3,000. The cost of the books sold was $1,500. $100 credit for books returned to Binsfeld Publishers, 9 Paid Binsfeld Publishers in full, less discount. 15 Received payment in full from Reading Rainbow. 17 Sold books on account to Rapp Books for $1,500. The cost of the books sold was $1,140. sn Purchased books on account for $1,900 from McGinn Publishers, FOB destination, terms 1/15, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. 24 Received payment in full from Rapp Books. 26 Paid McGinn Publishers in full, less discount. 28 Sold books on accout nt to Baeten Bookstore for $1,300. The cost of the books sold was $970. 30 Granted Baeten Bookstore $100 credit for books returned costing $60. Kern's Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 nventory, No. 201 Accounts Payable, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. SOS Cost of Goods Sold Journalize the transactions for the month of June for Kern's Book warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanatian Debit record credit sale) To record cost of merchandise sold) record credit sale