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On December 1, 2022, Blossom Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Recelved $3,600 cash from

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On December 1, 2022, Blossom Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Recelved $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,400, terms 1/10,n/30. 17 Sold merchandise on account $16,400, terms 2/10,n/30. The cost of the merchandise sold was $9,600. 19 Paid salaries $2,100. 22 Paid Vance Co. in full, less discount. 26 Recelved collections in full, less discounts, from customers billed on December 17. 31 Received $2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation was $200 per month. 2. Insurance of $400 expired in December. Journalize the December transactions. (Assume a perpetual inventory system.) (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required. select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the The statement from Jackson County Bank on December 31 showed a balance of $27,066. A comparlson of the bank statement with the Cash account revealed the following facts. 1. The bank collected a note recelvable of $2,400 for Blossom Company on December 15 through electronic funds transfer. 2. The December 31 receipts were deposited in a night deposit vault on December 31 . These deposits were recorded by the bankin January. 3. Checks outstanding on December 31 totaled $1,200. 4. On December 31 , the bank statement showed an NSF charge of $630 for a check received by the compny from L. Bryan, a customer, on account. Prepare a bank reconciliation as of December 31 based on the avallable information. (Hint: The cash balance per books is $26,896. This can be proven by finding the balance in the Cash account from parts (a) and (b)).) (List items that increase cash balance first. Reconcile cash balance per bank first.) Journalize the adjusting entries resulting from the bank reconciliation and adjustment data. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is reauired. select "No Entry" for the account titles and enter 0 for the amounts.)

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