Current Attempt in Progress

Prepare journal entries to record the following sales transactions in Blossom Company's books. Blossom uses a perpetual inventory

system.

Jan. $2$

Blossom sold $$10,000$ of merchandise to Xiaoyan Company, terms n$/30,$ FOB shipping point. The cost of the merchandise

sold was $$3,950.$

$4$ The correct company paid freight costs of $$155.$

$6$

Xiaoyan returned $$1,000$ of the merchandise purchased on January $2$ because it was not needed. The cost of the

merchandise returned was $$400,$ and it was restored to inventory.

Feb. $1$ Blossom received the balance due from Xiaoyan.

$($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 $O$ for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit

entries.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record sales on account.$)$

$($To record cost of goods sold.$)$

$($To record credit for goods returned.$)$

$($To record cost of returned goods.$)$