Business, 10.08.2021 20:10 fluffy37

Cullumber 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 $3,065 (including freight) from Catlin Publishers, terms 4/10, n/30.
3 Sold books on account to Garfunkel Bookstore for $1,000. The cost of the merchandise sold was $850.
6 Received $60 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 $1,750. The cost of the merchandise sold was $700.
20 Purchased books on account for $900 from Priceless Book Publishers, terms 3/15, 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 $1,950. The cost of the merchandise sold was $980.
30 Granted General Bookstore $140 credit for books returned costing $50.

Required:
Journalize the transactions for the month of June for Cullumber Warehouse, using a perpetual inventory system.

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Cullumber Warehouse distributes hardback books to retail stores and extends credit terms of 4/10, n/...

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