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Problem 5-1A Whispering Winds's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 2/10 n/30 to all of its customers. At

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Problem 5-1A Whispering Winds'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, Whispering Winds's inventory consisted of books purchased for $1,800. During June, the following merchandising transactions occurred June Purchased books on account for $1,700 from Kline Publishers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $60 for the freight on this date Sold books on account to Reading Rainbow for $2,000. The cost of the books sold was $280 Received $150 credit for books returned to Kline Publishers 3 6 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 $2,500. The cost of the books sold was $1,500 2Prchased books on account for $1,550 from Dietz Publishers, FOB destination, terms 2/15, n/30. The 24 26 28 30 appropriate party also made a cash payment of $50 for the freight on this date Received payment in full from Blanco Books Paid Dietz Publishers in full, less discount. Sold books on account to Reddy Bookstore for $1,100. The cost of the books sold was $700 Granted Reddy Bookstore $110 credit for books returned costing $66 Whispering Winds's Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accouts 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 Whispering Winds'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 0 for the amounts. Record journal entries in the order presented in the problem.)

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