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On August 7, Imports to Blossom Co. sold merchandise with a cost of $245 for $440 to Jade Biggs, who used an Imports to Blossom

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On August 7, Imports to Blossom Co. sold merchandise with a cost of $245 for $440 to Jade Biggs, who used an Imports to Blossom Co. credit card for payment. On August 15, Jade returned $70 of merchandise that was damaged and the goods were scrapped. On September 7, Imports to Blossom Co. recorded interest on the credit card balance owing on Jade Biggs's account. Imports to Blossom Co. charges 18% on any balance owing on its credit cards. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 52.75.) Date Account Titles and Explanation Credit Debit (To record credit card sale on account.) (To record cost of goods sold.) (To record credit card sale on account.) (To record cost of goods sold.)

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