Question

Problem 5-02A

Cullumber 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		Purchased books on account for $2,160 (including freight) from Catlin Publishers, terms 2/10, n/30.
3		Sold books on account to Garfunkel Bookstore for $1,000. The cost of the merchandise sold was $800.
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 $1,700. The cost of the merchandise sold was $950.
20		Purchased books on account for $900 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 $1,450. The cost of the merchandise sold was $910.
30		Granted General Bookstore $260 credit for books returned costing $90.

Journalize the transactions for the month of June for Cullumber 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.)

Date	Account Titles and Explanation	Debit	Credit
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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 dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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	enter a credit amount
	(To record cost of books sold)
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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 dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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	enter a credit amount
	(To record cost of merchandise sold)
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	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 dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
	Enter an account title	enter a debit amount	enter a credit amount
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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 dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 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	enter a credit amount
	(To record cost of books sold)
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title to record credit granted for returned goods	enter a debit amount	enter a credit amount
	Enter an account title to record credit granted for returned goods	enter a debit amount	enter a credit amount
	(To record credit granted to General Bookstore for returned goods)
Choose a transaction dateJune 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30 June 1June 3June 6June 9June 15June 17June 20June 24June 26June 28June 30	Enter an account title to record cost of goods returned	enter a debit amount	enter a credit amount
	Enter an account title to record cost of goods returned	enter a debit amount	enter a credit amount
	(To record cost of books returned)

Answer 1