Current Attemptin Progress

Blossom Meat Ltd$.($BML$)$ is a commercial distributor of plant$-$based meat substitutes to grocery stores and chains in Western Canada.

BML and the company$$s management team have successfully grown the operation to the point where they are able to distribute their

products nationally. BML had the following transactions in the month of September:

Sept. $1$ BML borrowed $$25,000$ from the bank. The interest rate on the loan is $6\%$ per annum, and the terms of the loan state

that the loan is to be repaid at the end of each month in the amount of $$1,875$ per month plus interest.

$1$ BML renewed the annual insurance policy covering its warehouse and paid the premium for the $12-$month policy in

the amount of $$5,400.$ The term of the policy is from September $1$ to August $31$ of the following year.

$4$ The company purchased inventory at a cost of $$37,900$ from a producer on account.

$10$ BML recorded its sales for the first $10$ days of the month. Total sales $($half in cash and half on account$)$ amounted to

$$26,900,$ and the inventory related to these sales was determined to have a cost of $$19,700.$

$19$ Paid $$8,900$ to suppliers who had previously sold BML inventory on account.

$27$ Paid employee wages in the amount of $$4,900.$

$29$ BML accepted a payment of $$8,900$ from a local independent grocer who placed an order for $890$ kg of plant$-$based

sausages to be delivered in mid$-$October for an Oktoberfest promotion.

$30$ BML made the necessary month$-$end entry related to the insurance policy.

$30$ BML made the necessary month$-$end entry related to record the bank loan.

Analyze and record these transactions. $($Enter amountsthat decrease account balance using either a negative sign preceding the number e$.$g$.$

$-45$ or parentheses e$.$g$.(45).$ Indicate whether it is Revenues, Expenses or Dividends declared in the last column. In case if there is no effect then

select "Not Applicable". Post entriesin the order presented in the problem statement.$)$