Part A

Part B

Part C

Blossom sells 3-D printer systems. Recently, Blossom provided a special promotion of zero-interest financing for two years on any new 3-D printer system. Assume that Blossom sells Lyle Cartright a 3-D system, receiving a $6,000 zero-interest-bearing note on January 1, 2020. The cost of the 3-D printer system is $4,800. Blossom imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entries to record the sale on January 1, 2020. (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. Debit Credit 6.800 6,800 Date Account Titles and Explanation January 1, 2020 Notes Receivable Sales Revenue (To record sales) January 1, 2020 Cost of Goods Sold Inventory (To record cost of goods sold) 4.800 4.800 Calculate the total amount of revenue to be recognized in 2020. Total revenue for Blossom $ 6,800 Blossom sells 20 non-refundable $99 gift cards for 3-D printer plastic on March 1, 2020. The plastic has a stand-alone selling price of $99 (cost $79). The gift card expiration date is June 30, 2020. Blossom estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (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 o for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date March 1, 2020 : March 31, 2020. Account Titles and Explanation Cash Unearned Revenue Unearned Revenue Sales Revenue (To record sales revenue) Cost of Goods Sold Inventory (To record cost of goods sold) March 31, 2020 (To record sales revenue) (To record cost of goods sold) (To record sales) (To record cost of goods sold) Blossom sells 3-D printers along with a number of retail items. The package price and stand-alone selling prices of each item are as follows. The printer and stand are often sold as a bundle with the bundling discount noted below. Bundling Discount Item $600 Stand-Alone Price When Selling Price Bundled $6,000 $5,400 540 210 210 $6,750 $6,150 3-D printer (cost $4,800) Custom stand (cost $240) Special 3-D plastic (cost $165) Total for bundle 540 -0- -0- $600 Due to the timing of the delivery-the plastic is delivered six months after the printer is delivered to the customer-Blossom chooses to account for two performance obligations: (1) the printer and stand, and (2) the plastic. Prepare the journal entries for Blossom on March 1, 2020,when Blossom receives $61,500 for the sale of 10 printer bundles, and September 1, 2020, when the plastic is delivered to customers. (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.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) (To record sales) (To record cost of goods sold)