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Blossom Company operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a
Blossom Company operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive. (a) Calculate the missing amounts. 2020 2021 2022 2023 $96,060 $ (e) $81,980 (a) 27,580 26,040 61,110 (0) 64,860 (f) 52,770 $ (b) 5,530 $ 0) $13,180 $ (c) $15,380 $ (k) 5,700 6,380 4,880 (1) it $26,400 $ $23,700 (d) (h) 24,750 Blossom Company operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive. (a) Calculate the missing amounts. 2020 2021 2022 2023 $96,060 $ (e) $81,980 (a) 27,580 26,040 61,110 (0) 64,860 (f) 52,770 $ (b) 5,530 $ 0) $13,180 $ (c) $15,380 $ (k) 5,700 6,380 4,880 (1) it $26,400 $ $23,700 (d) (h) 24,750
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