Question: Your answer is incorrect. On January 1 3 , 2 0 2 5 , Blossom Corporation discovered that goods in transit of (
Your answer is incorrect. On January Blossom Corporation discovered that goods in transit of $ with terms FOB shipping point were not included in the inventory count at the December yearend. The goods were shipped on December and received by Blossom on January Prepare any correcting journal entry required, assuming Blossom uses a periodic inventory system, the books are closed for and ignore any income tax effects. 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 for the amounts. List debit entry before credit entry. Account Titles and Explanation Retained Earnings Cost of Goods Sold Debit Credit
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