Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. screenshot your answer is partially correct. prep

Screenshot Your answer is partially correct. Prepare the journal entries to record the following...

80.2K

Verified Solution

Question

Accounting

Screenshot
Your answer is partially correct.
Prepare the journal entries to record the following transactions on Blossom Company's books under a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
(a) On March 2, Kingbird Company sold $853,600 of merchandise to Blossom Company on account, terms 310,n30. The cost of the merchandise sold was $540,300.
(b) On March 6, Blossom Company returned $114,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $68,200.
(c) On March 12, Kingbird Company received the balance due from Blossom Company.
Date
Account Titles and Explanation
Debit
GRM
2024-0.18.41PM
q,
q,
F.
Scree
22-0...
\table[[Ea]]
creen 5
2-0...40
March 2 Inventory
Accounts Payable
853,600
SUPPORT
Accounts Payable
114,200
image

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

Q

using the fact that : A positive integer n ≥ 3 is constructive if it is...

Advance Math
Q

A block attached to a spring is displaced from equilibrium to the position x=+1.3m and released....

Physics
Q

What is Advantages of Pyramidal Horn Antenna and Parabolic Dish Antenna

Electrical Engineering
Q

Why do ions have difficulty moving through the cellular membrane?a) They are too large and...

Biology
Q

An object is placed at a distance of f 2 from a conve lens of...

Physics
Q

A connected graph has 22 even vertices and two odd vertices Determine whether the graph...

Algebra
Q

a TA

Algebra
Q

?McDaniel, Inc. uses...

Accounting
Q

What is an environmental pollution

Accounting
Q

On January 1, 2018, Surreal Manufacturing issued 640 bonds, each with a face value of...

Accounting
Q

Variable costs are relevant costs, and fixed costs are irrelevant costs

Accounting
Q

8) Red Company had 2,000,000 shares of common stock issued and outstanding at December 31,...

Accounting