Business, 15.10.2019 19:30 davidgritz2006
Powell warehouse distributes hardback books to retail stores and extends credit terms of 4/10, n/30 to all of its customers. during the month of june, the following merchandising transactions occurred. june 1 purchased books on account for $2,840 (including freight) from catlin publishers, terms 4/10, n/30.3 sold books on account to garfunkel bookstore for $1,050. the cost of the merchandise sold was $700.6 received $40 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 $1,050. the cost of the merchandise sold was $750.20 purchased books on account for $700 from priceless book publishers, terms 2/15, n/30.24 received payment in full from bell tower.26 paid priceless book publishers in full.28 sold books on account to general bookstore for $2,600. the cost of the merchandise sold was $750.30 granted general bookstore $260 credit for books returned costing $65.journalize the transactions for the month of june for powell warehouse, using a perpetual inventory system
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