Question: Exercise 5-5 (Part Level Submission) Presented below are transactions related to Bramble Corp. . On December 3, Bramble Corp. sold $668,300 of merchandise on account
Exercise 5-5 (Part Level Submission) Presented below are transactions related to Bramble Corp. . On December 3, Bramble Corp. sold $668,300 of merchandise on account to Flounder Co., terms 2/10, n/3o, FoB shipping peint. The cost of the merchandise sold was $371,50o. 2. On December 8. Flounder Co. was granted an allowance of $26,700 for merchandise purchased on December 3 . On December 13, Bramble Corp. received the balance due from Flounder Co. ssion ission) 12 (a) Prepare the journal entries to record these transactions on the books of Bramble Cerp, using a perpetual inventory system. (Credit account titles are automatically indented when manoally, If no entry is required, select "No Entry" for the account titfes and enter o for the amounts. lts by tiee No. Date Account Titles and Explanation (To necond credt sale) (To record cost of merchandise sold 3. Dec. 13
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