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On June 10, Wildhorse Company purchased $9,300 of merchandise from Blossom Company, on account, terms 3/10, n/30. Wildhorse pays the freight costs of $520 on
On June 10, Wildhorse Company purchased $9,300 of merchandise from Blossom Company, on account, terms 3/10, n/30. Wildhorse pays the freight costs of $520 on June 11. Goods totaling $700 are returned to Blossom for credit on June 12. On June 19. Wildhorse Company pays Blossom Company in full, less the purchase discount. Both companies use a perpetual inventory system, Use a tabular summary to record transaction on the books of Wildhorse Company. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) 4
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