shj.6Current Attempt in Progress Blossom Company uses a perpetual inventory system. Its beginning inventory consists of 108 units that cost $73 each. During June (1) the company purchased 323 units at $73 each, (2) returned 13 units for credit, and (3) sold 269 units at $108 each. Assume the number of units purchased is the same as the number of units sold. Journalize the June transactions. If no entry is required, select "No entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation (1) (2) (3) 100 (To record sales) (To record cost of goods sold) Debit Credit Current Attempt in ProgressBlossom Company uses a perpetual inventory system. Its beginning inventory consists of 108 units that cost $73 each. During June (1)the company purchased 323 units at $73 each, (2) returned 13 units for credit, and (3) sold 269 units at $108 each. Assume thenumber of units purchased is the same as the number of units soldJournalize the June transactions. (If no entry is required, select "No entry for the account titles and enter O for the amounts. Credit accounttitles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries)No. Account Titles and Explanation(2)(2)(3)(To record sales)(To record cost of goods sold)Debit1CreditSENDI

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Description: shj.6Current Attempt in Progress Blossom Company uses a perpetual inventory system. Its beginning inventory consists of 108 units that cost $73 each. During June (1) the company purchased 323 units at $73 each, (2) returned 13 units for credit, and (

Journal Entry :— It is an act of recording transactions in books of account when transaction…

Answered: Current Attempt in Progress Blossom…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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shj.6

Current Attempt in Progress Blossom Company uses a perpetual inventory system. Its beginning inventory consists of 108 units that cost $73 each. During June (1) the company purchased 323 units at $73 each, (2) returned 13 units for credit, and (3) sold 269 units at $108 each. Assume the number of units purchased is the same as the number of units sold. Journalize the June transactions. If no entry is required, select "No entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation (1) (2) (3) 100 (To record sales) (To record cost of goods sold) Debit Credit

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