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On June 10, Blossom Gifts purchased 9,000 of merchandise from Ayayai Designs. FOB shipping point, terms 1/10,n/30.8105som pays the freight costs of 490 on June
On June 10, Blossom Gifts purchased 9,000 of merchandise from Ayayai Designs. FOB shipping point, terms 1/10,n/30.8105som pays the freight costs of 490 on June 11. Damaged goods totaling 300 are returned to Ayayai for credit on June 12 . The net realizable value of these goods is 70. On June 19 , Blossom pays Ayayai in fuls less the purchase discount. Both companies use a perpetual inventory system. (a) Prepare separate entries for each transaction on the books of Blossom. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts)
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