Journalizing the transactions for the month of June for Blossom Warehouse, using a perpetual inventory system is as follows:
<h3>Journal Entries:</h3>
June 1 Debit Inventory $1,065
Credit Accounts Payable (Catlin Publishers) $1,065
terms 2/10, n/30.
June 3 Debit Accounts Receivable (Garfunkel Bookstore) $1,500
Credit Sales Revenue $1,500
Debit Cost of goods sold $700
Credit Inventory $700
June 6 Debit Accounts Payable (Catlin Publishers) $65
Credit Inventory $65
June 9 Debit Accounts Payable (Catlin Publishers) $1,000
Credit Cash $980
Credit Cash Discounts $20
June 15 Debit Cash $1,470
Debit Cash Discounts $30
Credit Accounts Receivable (Garfunkel Bookstore) $1,500
June 17 Debit Accounts Receivable (Bell Tower) $1,900
Credit Sales Revenue $1,900
Debit Cost of goods sold $750
Credit Inventory $750
June 20 Debit Inventory $800
Credit Accounts Payable (Priceless Book Publishers) $800
terms 1/15, n/30.
June 24 Debit Cash $1,862
Debit Cash Discounts $38
Credit Accounts Receivable (Bell Tower) $1,900
June 26 Debit Accounts Payable (Priceless Book Publishers) $800
Credit Cash $792
Credit Cash Discounts $8
June 28 Debit Accounts Receivable (General Bookstore) $1,250
Credit Sales Revenue $1,250
Debit Cost of goods sold $810
Credit Inventory $810
June 30 Debit Sales Returns $270
Credit Accounts Receivable (General Bookstore) $270
Debit Inventory $65
Credit Cost of goods sold $65
<h3>Transaction Analysis:</h3>
Sales credit terms = 2/10, n/30
June 1 Inventory $1,065 Accounts Payable (Catlin Publishers) $1,065
terms 2/10, n/30.
June 3 Accounts Receivable (Garfunkel Bookstore) $1,500 Sales Revenue $1,500
Cost of goods sold $700 Inventory $700
June 6 Accounts Payable (Catlin Publishers) $65 Inventory $65
June 9 Accounts Payable (Catlin Publishers) $1,000 Cash $980 Cash Discounts $20
June 15 Cash $1,470 Cash Discounts $30 Accounts Receivable (Garfunkel Bookstore) $1,500
June 17 Accounts Receivable (Bell Tower) $1,900 Sales Revenue $1,900
Cost of goods sold $750 Inventory $750
June 20 Inventory $800 Accounts Payable (Priceless Book Publishers) $800
terms 1/15, n/30.
June 24 Cash $1,862 Cash Discounts $38 Accounts Receivable (Bell Tower) $1,900
June 26 Accounts Payable (Priceless Book Publishers) $800 Cash $792 Cash Discounts $8
June 28 Accounts Receivable (General Bookstore) $1,250 Sales Revenue $1,250
Cost of goods sold $810 Inventory $810
June 30 Sales Returns $270 Accounts Receivable (General Bookstore) $270
Inventory $65 Cost of goods sold $65
Learn more about journalizing transactions using a perpetual inventory system at brainly.com/question/16889346
#SPJ1
