Blossom Company commenced operations on July 1. Blossom Company uses a periodic irventory system. During July, Blossom Company was involved in the following transactions and events: July 2 Purchased $14,000 of merchandise from Suppliers inc on account, terms 2/10,n/30, FOB shipping point. 3 Returned \$1,200 of merchandise to Suppliers inc. as it was damaged. Received a credit on account from Suppliers. 4 Paid $500 of freight costs on July 2 shipment. 8 Sold merchandise for $2,000cash 11 Paid Suppliers Inc, the full amount owing. 15 Sold merchandise for $6,000 on account, 1/10,n/30, FOB shipping point. 25 Received full payment for the merchandise sold on July 15. 31 Blossom did a physical count and determined there was $9,500 of inventory on hand. Record the transactions in Blossom Company's books. (Crodit ocoount thles are oultomationlly ndented when the amount is entered Do not malent monually. I/ ne entry k reguled, seled "Id Entry" for the occount tides and enter 0 for the omoents. Record joumal entrles in the onder presented hn the problen. List ol debl entries before areif entries. Question 4 of 5 133 (Payment on account) (To record sales on account) (Collection on account) eTextbook and Media Sarue for Later Attempts: 0 of 2 used Subriit Auswer 128 Question Part Score