Blue Spruce Company buys merchandise on account from Blossom Company. The selling price of the goods...
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Blue Spruce Company buys merchandise on account from Blossom Company. The selling price of the goods is $1,190, and the cost of the goods is $820. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Blue Spruce Company Blossom Company (To record credit sale) (To record cost of merchandise sold) Blue Spruce Company buys merchandise on account from Blossom Company. The selling price of the goods is $1,190, and the cost of the goods is $820. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Blue Spruce Company Blossom Company (To record credit sale) (To record cost of merchandise sold)
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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