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The following transactions are for Blossom Company. 1. 2. 3. On December 3, Blossom Company sold $586,700 of merchandise to Ayayai Co., on account,
The following transactions are for Blossom Company. 1. 2. 3. On December 3, Blossom Company sold $586,700 of merchandise to Ayayai Co., on account, terms 2/10, n/30, FOB destination. Blossom paid $390 for freight charges. The cost of the merchandise sold was $391,300. On December 8, Ayayai Co. was granted an allowance of $28,700 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.) ite Account Titles and Explanation Dec. 3 Dec. 8 Dec. 13 To record credit sale) Jan. 2 (To record cost of merchandise sold) (To record freight charges) Debit Credi
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