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Sheridan Warehouse distributes hardback books to retail stores and extends credit terms of 2 1 0 , n 3 0 to all of its customers.

Sheridan Warehouse distributes hardback books to retail stores and extends credit terms of 210,n30 to all of its customers. During
the month of June, the following merchandising transactions occurred.
June 1 Purchased books on account for $2,845(including freight) from Catlin Publishers, terms 2/10, n/30.
3 Sold books on account to Garfunkel Bookstore for $900. The cost of the merchandise sold was $800.
6 Received $45 credit for books returned to Catlin Publishers.
9 Paid Catlin Publishers in full.
15 Received payment in full from Garfunkel Bookstore.
17 Sold books on account to Bell Tower for $1,400, terms of 210,n30. The cost of the merchandise sold was $850.
20 Purchased books on account for $700 from Priceless Book Publishers, terms 1/15, n/30.
24 Received payment in full, less discount from Bell Tower.
26 Paid Priceless Book Publishers in full.
28 Sold books on account to General Bookstore for $1,700. The cost of the merchandise sold was $770.
30 Granted General Bookstore $210 credit for books returned costing $30.
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