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Prepare the journal entries to record the following purchase transactions in Blossom Companys books. Blossom uses a perpetual inventory system. Mar. 12 Blossom purchased $23,000
Prepare the journal entries to record the following purchase transactions in Blossom Companys books. Blossom uses a perpetual inventory system.
Mar. 12 Blossom purchased $23,000 of merchandise from Dalibor Company, terms 2/10, n/30, FOB destination.
13 The correct company paid freight costs of $175.
14 Blossom returned $2,700 of the merchandise purchased on March 12 because it was damaged.
21 Blossom paid the balance owing to Dalibor.
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