Problem 5-1A Partially correct answer. Your answer is partially correct. Try again. Ayayais Book Warehouse 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, Ayayais inventory consisted of books purchased for $1,500. During June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,300 from Kline Publishers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. 3 Sold books on account to Reading Rainbow for $2,400. The cost of the books sold was $680. 6 Received $150 credit for books returned to Kline Publishers. 9 Paid Kline Publishers in full, less discount. 15 Received payment in full from Reading Rainbow. 17 Sold books on account to Blanco Books for $2,300. The cost of the books sold was $1,380. 20 Purchased books on account for $1,150 from Dietz Publishers, FOB destination, terms 2/15, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. 24 Received payment in full from Blanco Books. 26 Paid Dietz Publishers in full, less discount. 28 Sold books on account to Reddy Bookstore for $1,500. The cost of the books sold was $950. 30 Granted Reddy Bookstore $130 credit for books returned costing $78. Ayayais Book Warehouses 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. Journalize the transactions for the month of June for Ayayais Book Warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Problem 5-1A Your answer is partially correct. Try again. Ayayal's Book Warehouse 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, Ayayai's inventory consisted of books purchased for $1,500. Dur June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,300 from Kline Publishers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. 3 Sold books on account to Reading Rainbow for $2,400. The cost of the books sold was $680. 6 Received $150 credit for books returned to Kline Publishers. 9 Paid Kline Publishers in full, less discount 15 Received payment in full from Reading Rainbow. 17 Sold books on account to Blanco Books for $2,300. The cost of the books sold was $1,380. 20 Purchased books on account for $1,150 from Dietz Publishers, FOB destination, terms 2/15, n/30. The appropriate party also made a cash payment of $40 for the freight on this date. 24 Received payment in full from Blanco Books. 25 Paid Dietz Publishers in full, less discount. 28 Sold books on account to Reddy Bookstore for $1,500. The cost of the books sold was $950. 30 Granted Reddy Bookstore $130 credit for books returned costing $78. Ayayai's Book Warehouse'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. Journalize the transactions for the month of June for Ayayal's Book Warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Tjune 1 lune 15 cash SUPE | Accounts Receivable Inventory Accounts Payable Taccounts Receivable Sales Revenue (To record credit sale) cost of Goods Sold une 3 ne 17 Accounts Receivable T Sales Revenue (To record credit sale) e3 June 17Tcost of Goods Sold 1 Inventory (To record cost of merchandise sold) Accounts Payable Inventory Tjune 6 (To record cost of merchandise sold) June 20 Inventory Inventory T Accounts Payable June 9 Accounts Payable T Cash Inventory 1080 OD A DO DI DI 100 DI Cash Sales Discounts Accounts Receivable June 20 Inventory Accounts Payable VIEW W HILINISC Sales Returns and Allowances ponad OOTHITTATTI i digitodddHUTARUGU & June 24 cash TAccounts Receivable Sales Discounts (To record merchandise returned) TAccounts Receivable June 30 inventory June 26 ITAccounts Payable Cost of Goods Sold Inventory (To record cost of merchandise returned) cash TJune 28 TAccounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold