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Presented below are transactions related to Blossom, Inc. May 10 ...

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Accounting

Presented below are transactions related to Blossom, Inc.
May 10 Purchased goods billed at $12,200 subject to cash discount terms of 2/10, n/60.
11 Purchased goods billed at $14,700 subject to terms of 1/15, n/30.
19 Paid invoice of May 10.
24 Purchased goods billed at $8,700 subject to cash discount terms of 2/10, n/30.
Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

May 10May 11May 19May 24

May 10May 11May 19May 24

May 10May 11May 19May 24

May 10May 11May 19May 24

SHOW LIST OF ACCOUNTS

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