P5-1apowell’s book warehouse distributes hardcover books to retail
P5-1A Powell’s Book Warehouse distributes hardcover books to retail stores and extends credit term 0f 2/10, n/30 to all of its customers. At the end of May, Powell’s inventory consisted of books purchased for $1,800. During June, the following merchandising transactions occurred. June 1 Purchased books on account for $ 1,600 from Kline Publishers, FOB destination, terms 2/10, […]