Tuesday, October 16, 2012

Accounting help? transactions?

Hayes Warehouse distributes hardback books to retail stores and extends credit terms of 3/10, n/30 to all of its customers. During the month of June the following merchandising transactions occurred.

June 1 Purchased books on account for $760 (including freight) from Brooks Publishers, terms 3/10, n/30.
3 Sold books on account to the Mission Viejo Bookstore for $1, 476. The cost of the merchandise sold was $615.
6 Received $55 credit for books returned to Brooks Publishers.
9 Paid Brooks Publishers in full.
15 Received payment in full from the Mission Viejo Bookstore.
17 Sold books on account to Book Nook Bookstore for $1, 728. The cost of the merchandise sold was $720.
20 Purchased books on account for $645 from Cook Book Publishers, terms 3/15, n/30.
24 Received payment in full from Book Nook Bookstore.
26 Paid Cook Book Publishers in full.
28 Sold books on account to NewTown Bookstore for $1, 572. The cost of the merchandise sold was $655.
30 Granted NewTown Bookstore $156 credit for 13 books returned costing $65.

need help on 6, 15, 17, 20, 24, 28, 30
>>> Accounting help? transactions?