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Swifty'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,

Swifty'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 3 Purchased books on account for $980 (including freight) from Catlin Publishers, terms 2/10, n/30, Sold books on account to Garfunkle Bookstore for $1,310. The cost of the books sold was $690. 6 Received $80 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 15 17 17 20 225 24 26 822 D Received payment in full from Garfunkle Bookstore. Sold books on account to Bell Tower for $1,300. The cost of the merchandise sold was $760. Purchased books on account for $650 from Priceless Book Publishers, terms 1/15, n/30. Received payment in full from Bell Tower. Paid Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,320. The cost of the merchandise sold was $780. 30 Granted General Bookstore $140 credit for books returned costing $70

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