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Question 3 of 6 Sunland Warehouse distributes hardback books to retail stores and extends credit terms of 2 1 0 , n 3 0 to
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Sunland Warehouse distributes hardback books to retail stores and extends credit terms of to all of its customers. During the month of June, the following merchandising transactions occurred.
June Purchased books on account for $including freight from Catlin Publishers, terms
Sold books on account to Garfunkel Bookstore for $ The cost of the merchandise sold was $
Received $ credit for books returned to Catlin Publishers.
Paid Catlin Publishers in full.
Received payment in full from Garfunkel Bookstore.
Sold books on account to Bell Tower for $ The cost of the merchandise sold was $
Purchased books on account for $ from Priceless Book Publishers, terms
Received payment in full from Bell Tower.
Paid Priceless Book Publishers in full.
Sold books on account to General Bookstore for $ The cost of the merchandise sold was $
Granted General Bookstore $ credit for books returned costing $
Journalize the transactions for the month of June for Sunland Warehouse, using a perpetual inventory system. If no entry is required, select No Entry" for the occount titles and enter for the amounts. Credit account tittes are automatically indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem. List all debit entrles before credit entries.
Date
Account Titles and Explanation
Debit
Credit
Inventory
Accounts Payable
Accounts Receivable
To record sale of books on account
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