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

Let . a,? Z[i] with prime. Prove that if ?|a, then 7 and a are...

Calculus
Q

minimum 1 reference please define Vasectomy and Tubal Ligation and explain the pro's and con's for...

Medical Sciences
Q

A parallel piate capacitor without any dielectric within its plates has a capacitance C and...

Physics
Q

Angular momentum and its conservation RD16 A uniform ring is rotating about vertical axis with...

Physics
Q

John has scored 12 23 and 19 points in his three basketball games so far...

Statistics
Q

Employees in Qubec receive both a T4 and a RL-1 information slip....

Accounting
Q

Shea Air Conditioning & Heating had the following select financial data as of June 30,...

Accounting
Q

need text answer only.briefly explain Question Define the term business combination and differentiate across various...

Accounting
Q

Required information [The following information applies to the questions displayed below.] Astro...

Accounting
Q

please show in excel along with any formulas . Sprint 4 76% 2:54 PM...

Accounting
Q

Annual Report Project Instructions For this project, you will read and interpret information from the...

Accounting
Q

Suppose the Japanese yen exchange rate is 80=$1, and the British pound exchange rate is...

Finance