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The following transactions are for Blossom Company. 1. On December 3, Blossom Company sold $510,000 of merchandise to Crane Co. on account. The cost
The following transactions are for Blossom Company. 1. On December 3, Blossom Company sold $510,000 of merchandise to Crane Co. on account. The cost of the merchandise sold was $336,600. 2. On December 8, Crane Co. returned $25,500 of merchandise purchased on December 3. The cost of the goods was $16,320. 3. On December 13, Blossom Company received the balance due from Crane Co. Prepare a tabular summary to record these transactions for Blossom Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Dec. 3 00 5 13 Assets Accts. Cash Rec. Inventory Liabilities Accts. Pay. Common Stock I LA Rev. Stockholders' Equity Re 69 Stockholders' Equity Retained Earnings Rev. 6A $ I Exp. The following transactions are for Blossom Company. 1. 2. On December 3, Blossom Company sold $510,000 of merchandise to Crane Co. on account. The cost of the merchandise sold was $336,600. On December 8, Crane Co. returned $25,500 of merchandise purchased on December 3. The cost of the goods was $16,320.. 3. On December 13, Blossom Company received the balance due from Crane Co.
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