Business, 01.03.2021 21:30 jonathankingsberry52

On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms 4/10, n/30. Kingbird pays the freight costs of $410 on June 11. Goods totaling $400 are returned to Blossom for credit on June 12. On June 19, Kingbird Company pays Blossom Company in full, less the purchase discount. Both companies use a perpetual inventory system. Required:
a. Prepare separate entries for each transaction on the books of Kingbird Company.
b. Prepare separate entries for each transaction for Blossom Company The merchandise purchased by Kinghbird on June 10 cost Blossom $3,300, and the goods returned cost Blossom $210.

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On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms...

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