This information relates to Blossom Co. 1. 2. 3. 4. On April 5, purchased merchandise from Crane Company for $29,000 on account. On April 7, purchased equipment on account for $30,600. On April 8, returned $3,900 of April 5 merchandise to Crane Company. On April 15, paid the amount due to Crane Company in full. Prepare a tabular summary to record the transactions listed above for Blossom Co. using a perpetual inventory syster amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
This information relates to Blossom Co. 1. 2. 3. 4. On April 5, purchased merchandise from Crane Company for $29,000 on account. On April 7, purchased equipment on account for $30,600. On April 8, returned $3,900 of April 5 merchandise to Crane Company. On April 15, paid the amount due to Crane Company in full. Prepare a tabular summary to record the transactions listed above for Blossom Co. using a perpetual inventory syster amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
s
Transcribed Image Text:LA
Liabilities
Accts. Pay.
+
LA
Common Stock
+
$
GA
Stockholders' Equity
Rev.
Retained Earnings
LA
Exp.
Transcribed Image Text:This information relates to Blossom Co.
1.
2.
3.
4.
On April 5, purchased merchandise from Crane Company for $29,000 on account.
On April 7, purchased equipment on account for $30,600.
On April 8, returned $3,900 of April 5 merchandise to Crane Company.
On April 15, paid the amount due to Crane Company in full.
Prepare a tabular summary to record the transactions listed above for Blossom Co. using a perpetual inventory system
amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Date
April 5 $
7
8
00
LA
15
Cash
+
LA
$
Assets
Inv.
LA
Equipment
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