Question
On October 5, Blossom Company buys merchandise on account from Sunland Company. The selling price of the goods is $5,810, and the cost to Sunland
On October 5, Blossom Company buys merchandise on account from Sunland Company. The selling price of the goods is $5,810, and the cost to Sunland Company is $4,360. On October 8, Blossom Company returns defective goods with a selling price of $830 and a scrap value of $260. Record the transactions on the books of Sunland Company, assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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