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Question 3 20 pts The following are selected transactions of Blueberry, Inc. 10-May Blueberry sold and shipped on account to Yogurt, Inc. merchandise for $48,000

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Question 3 20 pts The following are selected transactions of Blueberry, Inc. 10-May Blueberry sold and shipped on account to Yogurt, Inc. merchandise for $48,000 (gross margin is 25%), terms 2/15, 1/30 Hint: you must calculate COGS 12-May Shipping costs of $3,500 were paid. The terms of the sale were FOB Destination 16-May Yogurt, Inc. returned merchandise billed at $3,000 on May 16, (gross margin is 25%). Hint: you must calculate COGS. 24-May Received a check from Yogurt, Inc. for full settlement of the May 10 transaction REQUIRED: Record the above transactions in general Journal form as they would appear on the books of (a) Blueberry, Inc. and (b) Yogurt, Inc. Both companies use the perpetual inventory system. Omit explanations for the Journal entries

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