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The following are selected 2023 transactions of Bridgeport Corporation. Sept. 1 Purchased inventory from Blue Ltd. on account for $59,200. Bridgeport uses a periodic inventory
The following are selected 2023 transactions of Bridgeport Corporation. Sept. 1 Purchased inventory from Blue Ltd. on account for $59,200. Bridgeport uses a periodic inventory system. Oct. 1 Issued a $59,200,12-month, 9% note to Blue in payment of Bridgeport's account. 1 Borrowed $76,200 from the bank by signing a 12 -month, non-interest-bearing $81,500 note. vare Account I Icies and expanacion VeDIt Crealc Oct. 1/24 (To record repayment of note) Oct. 1/24 (To accrue interest expense on non-interest-bearing note) Oct. 1/24
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