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Questions Blossom Company is a furniture retailer and uses the perpetual inventory system on January 14, 2022, Blossom purchased merchandise Inventory at a cost of

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Questions Blossom Company is a furniture retailer and uses the perpetual inventory system on January 14, 2022, Blossom purchased merchandise Inventory at a cost of $54,000. Credit terms were 2/10, 1/30. The inventory was sold on account for $1,000 on January 21, 2022. Credit terms were 7/10, 1/30. The accounts payable was settled on January 23, 2022 and the accounts receivables were settled on January 30, 2022 Prepare journal entries to record each of these transactions. (Credit accountitles an automatica Indented when the end, not in my Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit >> (To record credit sale) udy To record cost of good sold)

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