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Problem S-1A Monty's Book Warehouse distributes Mardcover books to retail stores and extends credit terms of 1/10, 30 to all of its customers. At the
Problem S-1A Monty's Book Warehouse distributes Mardcover books to retail stores and extends credit terms of 1/10, 30 to all of its customers. At the end of May, Monty's inventory consisted of bocks purchased for $2.000. During Jure, the following June 1 Purchased books on account for $1,800 from Kline Publishers, FOB destination, terms 1/10. 30. The appropriate party also made a cash payment of $50 for the freight on this date. 3 Sold books on account to Reading Rainbow for $2,000. The cost of the books sold was $1,620 6 Received $200 orest for returned to Kine Publisher 30. The appropriate party also made a cash payment of $50 for the freight on this date 15 Received payment in from Reading Rainbow 12 Sold books on account to Blanco Books for $1,600. The cost of the books sold was $960. 20 Purchased books on account for $1.600 from Dietz Publishers, Foo destination, terms V15, 24 Received payment in All from Blanca Book 26 Paid Dietz Publishers in discount 28 Sold books on account to Reddy Bookstore for $1,300. The cost of the books old was 800 30 Granted Reddy Bookstore $140 credit for books returned costing 14 Munty's Warehouse's chart of Dins and SOS COy of Goods n u des the forming No. 101 Cash, No. 112 Accounts Receivable No. 120 Inventory, 201 Accounts Paywie, 401 Swes Revenue, No. 412 Sales Returns and Allowances, No. 414 Journalue the transactions for the month of une for Mont ok Warehouse using a perpetual ventory w om. (Cred amounts are automatically indeed when amount is entered is required, select entry for the accounts and enter for the amounts Record journal entries in the order presented in the problem.) o indent manually. If no anty Date Acount and Explanation Credit
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