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Sandhill Warehouse distributes hardback boaks to retail stores and extends credit terms of 2 1 0 , n 3 0 to all of its customers.
Sandhill Warehouse distributes hardback boaks to retail stores and extends credit terms of to all of its customers. During
the month of June, the following merchandising transactions accurred.
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 boaks returned to Catlin Publishers.
Paid Catlin Publishers in full.
Received payment in full from Garfunbel Boolstore.
Sold books on account to Bell Tower for $ terms of The cost of the merchandise sold was $
Purchased books on account for $ from Priceless Boak Publishers, terms
Received payment in full, less discount from Bell Tower.
Paid Priceless Bock 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 Sandhill Warehouse, using a perpetual irwentory system. If no entry is required,
select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered.
Do not indent manually. Record journal entries in the arder presented in the problem.
te
Account TItles and Explanation
Credl
To record sale of books on account
To record cost of books old
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