w History Bookmarks Window Help Q H D Wed 8:10 PM Q ley .com how Get Ge d e ACETO S . Google Cloud Doogle Custom Pre Nyco Chat Your Answer Correct Answer Support The following transactions are for Kingbird Company 1 On December 3. Kingbird Company sold 545000 of merchandise to Blossom Co, on account terms 1/10.30. The cost of the merchandise sold was $310000 2 On December 3, Blossom Cawas granted an allowance of $22000 for merchandise purchased on December 3 on December 13, Kingbird Company received the balance due from Blossom Co. Prepare the journal entries to record these transactions on the books of Kingbird Kingbird uses a perpetual inventory system of entry is required select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered Do not indent manually) No. Date Account Tities and Explanation Debit Credit (To record sale of merchandise on account) (To record cost of merchandise sold on account) Prepare the journal entries to record these transactions on the books of Kingbird. Kingbird uses a perpetual inventory system (if no entry is require select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is enter Do not indent manually.)