Question 5 -/10 View Policies Current Attempt in Progress Presented below are transactions related to Blossom Company 1. On December 3, Blossom Company sold $591,000 of merchandise on account to Sunland Co, terms 4/10,30, FOB shipping point. The cost of the merchandise sold was $354,400. 2 On December 8, Sunland Co. was granted an allowance of $25.700 for merchandise purchased on December 3. 3. On December 13, Blossom Company received the balance due from Sunland Co. Prepare the journal entries to record these transactions on the books of Blossom Company using a perpetual Inventory system. (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 for the amounts) No. Date Account Titles and Explanation Debit Credit Prepare the journal entries to record these transactions on the books of Blossom Company using a perpetual inventory system. (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 for the amounts) No. Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) 3. Dec. 13 Assume that Blossom Company received the balance due from Sunland Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (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 for the amounts) Date Account Titles and Explanation Debit Credit