Current Attempt in Progress Powell 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 6 9 15 17 20 24 26 28 30 Purchased books on account for $1,040 (including freight) from Catlin Publishers, terms 2/10, n/30. Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise sold was $720. Received $40 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. Received payment in full from Garfunkel Bookstore. Sold books on account to Bell Tower for $1,200. The cost of the merchandise sold was $730. Purchased books on account for $700 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 $1,300. The cost of the merchandise sold was $780. Granted General Bookstore $130 credit for books returned costing $80. Journalize the transactions for the month of June for Powell Warehouse, using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries Ih

Powell Warchouse 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 Purchased books on account for $1.040 (including treight from Catlin Publishers, terms 2/10,n/30. 3. Sold books on account to Garfunkel Bookstore for $1200. The cost af the merchundive sold was $720. 6 Received 540 credit for books returned to Collin Publishers. 9. Paid Catlin Putlishers in full. 15. Received pwment in full from Garfunkel Boolstore 17 Sold books on actount to bell fower for $1200. The cost of the merchindive sold was $730 20 Purchased books on account fo $700 from Priceless Book Publishers, terms 1/15, npo 24. Racrived puyment in full from Bell Tower. 26 Pad Priceless book Publishersintuat 28 Sold books on account to Ceneral tlookstore for $1,300. The cost of the merchundise sold was 5760 30 Cranted General Bookstore 5130 crest for books returned costine $80. \begin{tabular}{|c|c|} \hline Date & Account Titles and Explanation \\ \hline June 1: & Imentory \\ \hline & Accounts Payabile. \\ \hline June 3: & Accounts Receivable \\ \hline & Sules Peventus: \\ \hline \end{tabular} Debit Credit (To record sale of books on account) (To record cost of books sold) Inventony 1200 1.040 1200 (To record cost of merchandise sold) Question 3 of 4 10.25 (To record sale of books on account) (To record cost of books sold) (To recond credit granted to General Bookstore for returned goods) invition Cont of Cocoliside (to record cost of books returned) List of Accounts Sweforlater Attempts: 0 of 5 used