Exercise 5-09 a-b (Part Level Submission) Presented below is information for Martinez Company for the month of March 2020. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $216,920 6,420 5,350 57,450 Rent expense Sales discounts Sales returns and allowances Sales revenue $33,880 8,030 12,250 388,260 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number MARTINEZ COMPANY Income Statement Problem 5-01A (Video) Sunland's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, n/30 to all $2,000. During June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,700 from Binsfeld Publishers, FOB destination, terms 2/10, n/30. The app 3 Sold books on account to Reading Rainbow for $2,500. The cost of the books sold was $1,500. 6 Received $200 credit for books returned to Binsfeld Publishers. 9 Paid Binsfeld Publishers in full, less discount. 15 Received payment in full from Reading Rainbow. 17 Sold books on account to Rapp Books for $2,100. The cost of the books sold was $1,260. 20 Purchased books on account for $2,100 from McGinn Publishers, FOB destination, terms 1/15, n/30. The appro 24 Received payment in full from Rapp Books. 26 Paid McGinn Publishers in full, less discount. 28 Sold books on account to Baeten Bookstore for $1,200. The cost of the books sold was $970, 30 Granted Baeten Bookstore $120 credit for books returned costing $72. Sunland's Book Warehouse's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 12 Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. Journalize the transactions for the month of June for Sunland's Book Warehouse using a perpetual inventory system. (Cre indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit d extends credit terms of 1/10, n/30 to all of its customers. At the end of May, Sunland's inventory consisted of books purchased for FOB destination, terms 2/10, 1/30. The appropriate party also made a cash payment of $50 for the freight on this date. of the books sold was $1,500. le books sold was $1,260. , FOB destination, terms 1/15, n/30. The appropriate party also made a cash payment of $50 for the freight on this date. ost of the books sold was $970. ting $72 No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 401 Sales Revenue, No. 412 Sales Returns and Warehouse using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not in the problem.) Debit Credit Problem 603A a, b1 b2, c (Part Level Submission) (Video) Sheridan Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During i (Part Video) bi Mar. 15 July 20 400 units 220 units at at $24 $28 Sept. 4 Dec. 2 300 units 100 units at at $33 $30 deo 975 units were sold. Sheridan Company uses a periodic inventory system. (a) Determine the cost of goods available for sale. The cost of goods available for sale Click if you would like to Show Work for this question: Open Show Work