Answer questions exactly how they are plz On May 10,2025, Blossom Co. enters...
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Accounting
Answer questions exactly how they are plz
On May Blossom Co enters into a contract to deliver a product to Cullumber Inc. on June Cullumber agrees to pay the full contract price of $ on July The cost of the goods is $ Blossom delivers the product to Cullumber on June and receives payment on July Prepare the journal entries for Blossom related to this contract. Either party may terminate the contract without compensation until one of the parties performs. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.
Account Titles and Explanation
Debit
Credit
To record sales
To record cost of goods sold
Answer & Explanation
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