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The following transactions are for Wildhorse Company.
1. On December 3, Wildhorse Company sold $650,000 of merchandise to Blossom Co. on account. The cost of the merchandise sold was $429,000.
2. On December 8, Blossom Co. returned $32,500 of merchandise purchased on December 3. The cost of the goods was $20,800.3.On December 13, Wildhorse Company received the balance due from Blossom Co.
Problem 1: Prepare a tabular summary to record these transactions for Wildhorse Company using a perpetual inventory system.
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