The following transactions are for Kingbird Company. 1. On December 3, Kingbird Company sold $473,800 of merchandise to Blossom Co., on account, terms 2/10, n/30. The cost of the merchandise sold was $320,000. 2. On December 8, Blossom Co.
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Nash Corporation owns machinery that cost $24,400 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2,928 per year, resulting in a balance in accumulated depreciation of $10,248 at December 31, 2020.
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