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Cullumber Co. had the following transactions during October. 1. 2. On October 8, purchased merchandise on account from Blossom Company for $20,800, terms 2/10, n/30.
Cullumber Co. had the following transactions during October. 1. 2. On October 8, purchased merchandise on account from Blossom Company for $20,800, terms 2/10, n/30. On October 9, paid freight costs of $640 on merchandise purchased from Blossom Company. On October 11, returned $4,500 of October 8 merchandise to Blossom Company. On October 18, paid the amount due to Blossom Company in full. 3. 4. Use a tabular summary to record the transactions listed above for Cullumber Co.'s books. CullumberCo. uses a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities + Accounts Payable Date Cash + Inventory + Oct. 8 $ $ 9 11 18 Stockholders' Equity Retained Common Stock + Rev. 1 Exp. $ $ $ Earnings Div. >
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