Business
Business, 14.05.2021 17:30, doglover1624

Presented below are transactions related to Blossom Company. a. On December 3, Blossom Company sold $586,700 of merchandise on account to Ayayai Co., terms 4/10, n/30, FOB destination. Blossom paid $390 for freight charges. The cost of the merchandise sold was $391,300.
b. On December 8, Ayayai Co. was granted an allowance of $28,000 for merchandise purchased on December 3.
c. On December 13, Blossom Company received the balance due from Ayayai Co.

Required:
Prepare the journal entries to record these transactions on the books of R. Humphrey Company using a perpetual inventory system.

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Presented below are transactions related to Blossom Company. a. On December 3, Blossom Company sold...

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