The following selected accounts from Highview Electronics Corporations general ledger are presented below for the year ended December 31, 2018:

Accounts receivable		$276,000
Accumulated depreciationequipment		771,000
Advertising expense		52,000
Common shares		246,000
Cost of goods sold		1,057,000
Depreciation expense		126,000
Dividends declared		142,000
Equipment		1,466,000
Freight out		27,000
Income tax expense		77,000
Insurance expense		25,000
Interest expense		59,000
Interest revenue		32,000
Inventory		95,000
Prepaid expenses		28,000
Rent revenue		21,000
Retained earnings		568,000
Salaries expense		663,000
Sales		2,393,000
Sales discounts		21,000
Sales returns and allowances		40,000
Unearned revenue		19,000

question 2.

Riverbed Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Riverbeds inventory consists of 230 books purchased at $18 each. Riverbed uses a perpetual inventory system. During the month of June, the following merchandise transactions occurred:

June	1		Purchased 190 books on account for $16 each from Readers World Publishers, terms n/45.
	3		Sold 240 books on account to The Book Nook for $25 each, with an assumed average cost of $17, terms 2/10, n/45.
	5		Received a $160 credit for 10 books returned to Readers World Publishers.
	8		Sold 70 books on account to Read-A-Lot Bookstore for $21 each, with an assumed average cost of $17, terms 2/10, n/45.
	9		Issued a $252 credit memorandum to Read-A-Lot Bookstore for the return of 12 damaged books. The books were determined to be no longer saleable and were destroyed.
	11		Purchased 130 books on account for $15 each from Read More Publishers, terms n/45.
	12		Received payment in full from The Book Nook.
	17		Received payment in full from Read-A-Lot Bookstore.
	22		Sold 125 books on account to Readers Bookstore for $25 each, with an assumed average cost of $17, terms 2/10, n/45.
	25		Granted Readers Bookstore a $400 credit for 16 returned books. These books were restored to inventory.
	29		Paid Readers World Publishers in full.

Record the June transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all answers to 0 decimal places, e.g. 125. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
June 1
3
	(To record sales)
3
	(To record cost of goods sold)
5
8
	(To record sales)
8
	(To record cost of goods sold)
9
11
12
17
22
	(To record sales)
22
	(To record cost of goods sold)
25
	(To record sales returns)
25
	(To record cost of goods returned)
29

Attempts. SOI S user (b) Prepare a multiple-step income statement. Highview Electronics Corporation Income Statement (Multiple-step) $ $ $ $ $ > List of Accounts Save for Later Attempts: 0 of 3 used Submit