Pronghorn Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Pronghorns inventory consists of 270 books purchased at $19 each. Pronghorn uses a perpetual inventory system. Return rates in the book industry are high, with Pronghorn experiencing a 15% return rate historically. During the month of June, the following merchandise transactions occurred:

June	1		Purchased 200 books on account for $17 each from Readers World Publishers, terms n/45.
	3		Sold 220 books on account to The Book Nook for $25 each, with an assumed average cost of $18, terms n/45.
	5		Received a $153 credit for 9 books returned to Readers World Publishers.
	8		Sold 84 books on account to Read-A-Lot Bookstore for $23 each, with an assumed average cost of $18, terms n/45.
	9		Issued a $253 credit memorandum to Read-A-Lot Bookstore for the return of 11 damaged books. The books were determined to be no longer saleable and were destroyed.
	11		Purchased 130 books on account for $15 each from Read More Publishers, terms n/45.
	12		Received payment in full from The Book Nook.
	17		Received payment in full from Read-A-Lot Bookstore.
	22		Sold 125 books on account to Readers Bookstore for $25 each, with an assumed average cost of $18, terms n/45.
	25		Granted Readers Bookstore a $350 credit for 14 returned books. These books were restored to inventory.
	29		Paid Readers World Publishers in full. Record the June transactions.