Blossom Corporation shipped $20,400 of merchandise on consignment to Cullumber Company. Blossom paid freight costs...
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Accounting
Blossom Corporation shipped $ of merchandise on consignment to Cullumber Company. Blossom paid freight costs of $ Cullumber Company paid $ for local advertising, which is reimbursable from Blossom. By yearend, of the merchandise had been sold for $ Cullumber notified Blossom, retained a commission, and remitted the cash due to Blossom.
Prepare Blossom's journal entry when the cash is received. Credit account titles are automatically indented when 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.
Account Titles and Explanation
Debit
Cash
Advertising Expense
Commission Expense
Revenue from Consignment Sales
To record the cash remitted to Blossom.
Answer & Explanation
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