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Business, 03.06.2020 02:58 smelcher3900
The following transactions are for Kingbird Company.
1. On December 3, Kingbird Company sold $473,800 of merchandise to Blossom Co., on account, terms 2/10, n/30. The cost of the merchandise sold was $320,000.
2. On December 8, Blossom Co. was granted an allowance of $22,800 for merchandise purchased on December 3.
3. On December 13, Kingbird Company received the balance due from Blossom Co.
Required:
a. Prepare the journal entries to record these transactions on the books of Kingbird Company. Kingbird uses a perpetual inventory system.
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Answers: 2
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The following transactions are for Kingbird Company.
1. On December 3, Kingbird Company sold...
1. On December 3, Kingbird Company sold...
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