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Listed below are some transactions for Blossom Products Ltd . , which uses a perpetual inventory system and reports under ASPE.May 2 Sold inventory on
Listed below are some transactions for Blossom Products Ltd which uses a perpetual inventory system and reports under ASPE.MaySold inventory on account to Crane Inc., terms n Selling price $; cost $ Received a portion of the inventory sold on the previous day because it was damaged and could never be sold in the future. Selling price $; cost $ Received a portion of the inventory sold on May that was in good condition and could be sold to other customers in tl future. Selling price $ cost $ Received payment in full from Crane Inc. for the amount due from the sale made on May aRecord the journal entry or entries for each of the transactions above.
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