Business, 21.06.2021 16:20 william1690
This information relates to Blossom Co..
1. On April 5, purchased merchandise from Sunland Company for $28,800, terms 4/10, n/30.
2. On April 6, paid freight costs of $620 on merchandise purchased from Sunland Company.
3. On April 7, purchased equipment on account for $34,200.
4. On April 8, returned $3,500 of April 5 merchandise to Sunland Company.
5. On April 15, paid the amount due to Sunland Company in full.
1. Prepare the journal entries to record the transactions listed above on Blossom Co.’s books. Blossom Co. uses a perpetual inventory system.
2. Assume that Blossom Co. paid the balance due to Sunland Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
Answers: 2
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This information relates to Blossom Co..
1. On April 5, purchased merchandise from Sunland Company...
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