This information relates to Blossom Co..1. On April 5, purchased merchandise from Sunland Company for $26,200, terms 3/10, n/30.2. On April 6, paid freight costs of $570 on merchandise purchased from Sunland Company.3. On April 7, purchased equipment on account for $34,500.4. On April 8, returned $3,900 of April 5 merchandise to Sunland Company.5. On April 15, paid the amount due to Sunland Company in full.(a)Prepare the journal entries to record the transactions listed above on Blossom Co.’s books. Blossom Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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.)No.DateAccount Titles and ExplanationDebitCredit1.choose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount 2.choose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount 3.choose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount 4.choose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount 5.choose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount   enter an account title enter a debit amount enter a credit amount (b)Assume that Blossom Co. paid the balance due to Sunland Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter 0 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.)DateAccount Titles and ExplanationDebitCreditchoose a transaction date April 5April 6April 7April 8April 15May 4enter an account title enter a debit amount enter a credit amount  enter an account title

Question
Asked Mar 15, 2019
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This information relates to Blossom Co..

1.   On April 5, purchased merchandise from Sunland Company for $26,200, terms 3/10, n/30.
2.   On April 6, paid freight costs of $570 on merchandise purchased from Sunland Company.
3.   On April 7, purchased equipment on account for $34,500.
4.   On April 8, returned $3,900 of April 5 merchandise to Sunland Company.
5.   On April 15, paid the amount due to Sunland Company in full.


(a)

Prepare the journal entries to record the transactions listed above on Blossom Co.’s books. Blossom Co. uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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.)

No.
Date
Account Titles and Explanation
Debit
Credit
1.
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 
2.
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 
3.
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 
4.
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 
5.
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 
   
enter an account title
 
enter a debit amount
 
enter a credit amount
 


(b)

Assume that Blossom Co. paid the balance due to Sunland Company on May 4 instead of April 15. Prepare the journal entry to record this payment. (If no entry is required, select "No Entry" for the account titles and enter 0 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.)

Date
Account Titles and Explanation
Debit
Credit
choose a transaction date
 April 5April 6April 7April 8April 15May 4
enter an account title
 
enter a debit amount
 
enter a credit amount
 
 
enter an account title
 
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Expert Answer

Step 1

Perpetual inventory system: The method or system of maintaining, recording, and adjusting the inventory perpetually throughout the year, is referred to as perpetual inventory system.

Step 2

(a) Prepare the journal entries to record the giv...

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