Question 7 Warehouse distributes hardback books to ail 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. une 1 Purchased books on account for $2,575 (induding freight) from Catlin Publishers, terms 2/10, n/30 3 Sold books on account to Garfunkel Bookstore for $1,150. The cost of the merchandise sold was $900 6 Received $75 credit for books retuned to Catlin Publishers 9 Paid Catlin Publishers in full 15 Received payment in full from Garfunkel Blookstore. 17 Sold books on account to Bell Tower for $1,150. The cost of the merchandise sold was $750 20 Purchased books on account for $900 from Priceless Book Pubishers, terms 3/15, n/30 24 Received payment in full from Bell Tower 26 Paid Priceless Book Publishers in full 28 Sold books on account to General Bookstore for $1,900. The cost of the merchandise sold was $970. 30 Granted General Bookstore $130 credit for books returned costing $90. ournalize the transactions for the month of June for Powell Wareh amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the onder presented in the to 0 decimal places e.g. 15,222.) problem. Round an Date Account Titles and Explanation Debit Credit To record credit sale) (To record cost of goods sold) (To record cost of goods sold) June 24 To record credit sale) (To record cost of goods sold) (To record credit sale) (To record cost of goods sold) (To record credit granted for returned goods) (To record cost of goods returned)