Question $4$ of $7$

$\frac{-}{32}$

View Policies

Current Attempt in Progress

The following transactions are for Blossom Company.

On December $3,$ Blossom Company sold $$571,000$ of merchandise to Ayayai Co$.,$ on account, terms $\frac{2}{10},\frac{n}{30},$ FOB destination. Blossom paid $$320$ for freight charges. The cost of the merchandise sold was $$351,000.$

On December $8,$ Ayayai Co$.$ was granted an allowance of $$21,000$ for merchandise purchased on December $3.$

On December $13,$ Blossom Company received the balance due from Ayayai Co$.$

$($a$)$

Prepare the journal entries to record these transactions on the books of Blossom Company using a perpetual inventory system. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

No$.$

Date

Account Titles and Explanation

Debit

Credii

$1.$

Accounts Receivable