question 7

Account Title and Explanation Options

Question 7 12.5 pts Riverbed's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,040 from Catlin Publishers, terms 2/10, n/30. Sold books on account to Garfunkle Bookstore for $1,100. The cost of the books June 3 sold was $730. June 6 Received $40 credit for books returned to Catlin Publishers. June 9 Paid Catlin Publishers in full. June 15 Received payment in full from Garfunkle Bookstore. Sold books on account to Bell Tower for $1,300. The cost of the merchandise sold June 17 was $800. List debit transactions first and then list credit transactions. "If no entry is required, type "No Entry" for accounts and put o for debit and credit sides. Journalize the transactions for the month of June for Riverbed Warehouse using a perpetual inventory system Account Titles and Date Debit ($) Credit ($) Explanation [ Select 6/1 Select) Select) Select) [ Select Select] Cash Select 6/15 [Select