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Blossom's Market recorded the following events involving a recent purchase of inventory: (1 ) Received goods for $10,800, terms 2/10, n/30. (2) Returned $216 of
Blossom's Market recorded the following events involving a recent purchase of inventory: (1 ) Received goods for $10,800, terms 2/10, n/30. (2) Returned $216 of the shipment for credit. (3) Paid $54 freight on the shipment. (4) Paid the invoice within the discount period. Use the following tabular analysis to record these transactions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to O decimal places, e.g. 5,275.) Assets = Liabilities + = Cash Accounts Receivable Inventory Accounts Payable (1) $ $ $ $ (2) (3) ( (4) Stockholder's Equity Retained Earnings + Common Stock Rev. Exp. Div. $ $ $
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