Question

YPLUS Assignments Question 1 of 6 0.95/1 Show Attempt History Current Attempt in Progress On June 10, Kingbird Company purchased $6,000 of merchandise from Blossom Company, on account, terms 2/10, 1/30. Kingbird pays the freight costs of $350 on June 11. Goods totaling $200 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. Your answer is partially correct. Prepare separate entries for each transaction on the books of Kingbird Company. (If no entry is required, select "No Entry" for the account titles and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Account Titles and Explanation Date Credit June 10 Inventory 6000 Accounts Payable 6000 June 11 Inventory 350 350 Cash

Answer 1

Answer Pageno Journal Entry Date Jun-10 Inventory Accounts titleExplanation Debit Coredit 6000 Accounts payabl 6000 Jum-11 350 Inventory Cash 350 200 Jun-1a Accounts payable Inventory Accounts payable 200 Jun-1a 5800 5684 Inventory (5 800x98%) Cash (5800x 2.7.) 116