Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blossom company buys merchandise on account from p

Blossom Company buys merchandise on account from Pina Company. The selling price of the goods...

70.2K

Verified Solution

Question

Accounting

Blossom Company buys merchandise on account from Pina Company. The selling price of the goods is $1,140, and the cost of the goods is $830. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Blossom Company (To record credit purchase of inventory) Pina Company (To record credit sale) (To record cost of merchandise sold)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Complete this quiz to finish the assignment Find the length of side b if side...

Medical Sciences
1.2K views

Match the description to the appropriate receptor type. 1.Pain, itch, and temperature receptors 2.Contain intrafusal fibers and...

Calculus
1.2K views

nd the particular solution for the equation dy 9x 1 dx y 5 given y...

Algebra
1.2K views

2 150 d m2FDJ m D 50 60 80 A E 129 5 10x 7...

Algebra
1.2K views

Which of the following represent Exponential Growth Choose all that apply y 4 2 y...

Accounting
1.2K views

Nikennis Corporation has outstanding at December 31, 2012, 50,000 shares of $20 par value, cumulative,...

Accounting
1.2K views

Problem 2 On January 1, 2015, a company issued 10-year, 10% bonds payable with a...

Accounting
1.2K views

Exercise 11-13(Algo) Transfer Pricing Situations [LO11-3] [The following information applies to the questions...

Accounting
1.2K views

A partnership begins its first year of operations with the following capital balances: ...

Accounting
1.2K views

hi all the info is on this one question thanks :) On January 1,...

Accounting
1.2K views

In the event a corporation is dissolved, common stockholders receive preference over preferred stockholders in...

Accounting
1.2K views

How do you find goodwill (remainder) E 2-8 Calculate investment balance...