Policies

Current Attempt in Progress

Blossom Company buys merchandise on account from Ayayai Company. The selling price of the goods is $$790,$ and the cost of the goods is $$480.$ Both companies use perpetual inventory systems. for the amounts$)$

Account Titles and Explanation

Debit

Credit

Blossom Company.

$$

$$

$$

$$

$$

$($To record credit purchase of inventory$)$

$$

$$

$$

$$

$($To record credit sale$)$

$$

$$

$$

$$

$$

$$

$($To record cost of merchandise sold$)$

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