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The following transactions are for Wildhorse Company. 1. 2. On December 3, Wildhorse Company sold $650,000 of merchandise to Blossom Co. on account. The
The following transactions are for Wildhorse Company. 1. 2. On December 3, Wildhorse Company sold $650,000 of merchandise to Blossom Co. on account. The cost of the merchandise sold was $429,000. On December 8, Blossom Co. returned $32,500 of merchandise purchased on December 3. The cost of the goods was $20,800. 3. On December 13, Wildhorse Company received the balance due from Blossom Co. Prepare a tabular summary to record these transactions for Wildhorse 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).)
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