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Crane 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 $2,180 (including freight) from Catlin Publishers, terms 4/10, n/30. | |
| 3 | Sold books on account to Garfunkel Bookstore for $900. The cost of the merchandise sold was $700. | |
| 6 | Received $80 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 $1,600. The cost of the merchandise sold was $950. | |
| 20 | Purchased books on account for $800 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 $1,800. The cost of the merchandise sold was $820. | |
| 30 | Granted General Bookstore $300 credit for books returned costing $40. |
Journalize the transactions for the month of June for Crane 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.)
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Date
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Account Titles and Explanation
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Debit
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Credit
|
|
|---|---|---|---|---|
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Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
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Enter an account title
|
enter a debit amount
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enter a credit amount
|
|
|
Enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
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Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record credit sale
|
enter a debit amount
|
enter a credit amount
|
|
|
Enter an account title to record credit sale
|
enter a debit amount
|
enter a credit amount
|
||
| (To record sale of books on account) | ||||
| Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record cost of goods sold
|
enter a debit amount
|
enter a credit amount
|
|
|
Enter an account title to record cost of goods sold
|
enter a debit amount
|
|||
| (To record cost of books sold) | ||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title
|
|
||
|
Enter an account title
|
||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title
|
|||
|
Enter an account title
|
||||
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Enter an account title
|
||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title
|
|||
|
Enter an account title
|
||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record credit sale
|
|||
|
Enter an account title to record credit sale
|
||||
| (To record sale of books on account) | ||||
| Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record cost of goods sold
|
|||
|
Enter an account title to record cost of goods sold
|
||||
| (To record cost of merchandise sold) | ||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title
|
|||
|
Enter an account title
|
||||
|
Enter an account title
|
enter a debit amount for journal entry on June 24
|
enter a credit amount for journal entry on June 24
|
|
|
Enter an account title
|
enter a debit amount for journal entry on June 24
|
enter a credit amount for journal entry on June 24
|
||
|
Enter an account title
|
enter a debit amount for journal entry on June 24
|
enter a credit amount for journal entry on June 24
|
||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title
|
|||
|
Enter an account title
|
||||
|
Enter an account title
|
||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record credit sale
|
|||
|
Enter an account title to record credit sale
|
||||
| (To record sale of books on account) | ||||
| Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record cost of goods sold
|
|||
|
Enter an account title to record cost of goods sold
|
||||
| (To record cost of books sold) | ||||
|
Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record credit granted for returned goods
|
|||
|
Enter an account title to record credit granted for returned goods
|
||||
| (To record credit granted to General Bookstore for returned goods) | ||||
| Choose a transaction date
June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30
|
Enter an account title to record cost of goods returned
|
|||
|
Enter an account title to record cost of goods returned
|
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