View Policies Current Attempt in Progress You are given the following information for Blossom Company for...
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View Policies Current Attempt in Progress You are given the following information for Blossom Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 60 $49 9 Purchase 100 46 15 Sale (125) 22 Purchase 145 43 29 Sale (150) 30 Purchase 41 42 Blossom Company uses a perpetual inventory system. All sales and purchases are on account. Assume the sales price was $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles Debit Credit Nov. 22 Merchandise Inventory Accounts Payable Nov. 29 Accounts Receivable Sales (To record sales on account.) Nov. 29 Cost of Goods Sold Merchandise Inventory (To record cost of goods sold.) View Policies Current Attempt in Progress You are given the following information for Blossom Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 60 $49 9 Purchase 100 46 15 Sale (125) 22 Purchase 145 43 29 Sale (150) 30 Purchase 41 42 Blossom Company uses a perpetual inventory system. All sales and purchases are on account. Assume the sales price was $60 per unit for the sale on November 29. Prepare journal entries to record the November 22 purchase and the November 29 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles Debit Credit Nov. 22 Merchandise Inventory Accounts Payable Nov. 29 Accounts Receivable Sales (To record sales on account.) Nov. 29 Cost of Goods Sold Merchandise Inventory (To record cost of goods sold.)
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