CALCuLATOR : PRNTER VERSO. . BACK : Question 1 The following transactions are for Blossom Company 1. On December 3, Blossom Compan 2. On December 8, Sunland Co. returned $24,000 of merchandise purchased on December 3, The cost of the goods was $ 3. On December 13, Blossom Company received the balance due from Sunland Co. ny sold $515,600 of merchandise to Sunland Co. on account. The cost of the merchandise sold was $320,500. Prepare a tabular summary to record these transactions for Blossom Company using a perpetual Inventory system. (Enter negative amounts using elther a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets Liabillities Retained Earnings Cash Accts. Rec. Inv -Accts. Pay.Common Stock Rev Exp. Dec. 3s 515600 515600 Sales revenue 320500 320500 Cost of goods sold Sales returns & allowances -24000 16000 Cost of goods sold 16000 13 Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT istance, you wilt learn while you earn points based on the Point Potential Policy set by your instructor Mmp_ saVE POR LATER SUBMIT ANSWER Question Attempts: 0 of 3 used