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Hi, I was wondering how to prepare journal entries with the following as I do not really understand well. It says Blossom uses a perpetual
Hi, I was wondering how to prepare journal entries with the following as I do not really understand well. It says Blossom uses a perpetual inventory system.
Mar. 12 Blossom purchased $15,000 of merchandise from Dalibor Company, terms 2/10, n/30, FOB destination.
Mar. 13 The correct company paid freight costs of $155.
Mar. 14 Blossom returned $1,500 of the merchandise purchased on March 12 because it was damaged.
Mar. 21 Blossom paid the balance owing to Dalibor.
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