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(a) On March 2, Blossom Company sold $889,200 of merchandise to Kingbird Company on account, terms 2/10,n/30. The cost of the merchandise sold was $573,500.
(a) On March 2, Blossom Company sold $889,200 of merchandise to Kingbird Company on account, terms 2/10,n/30. The cost of the merchandise sold was $573,500. (b) On March 6, Kingbird Company returned $111,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $67,400. (c) On March 12, Blossom Company received the balance due from Kingbird Company. (To record return of merchandise) (To record cost of goods returned)
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