Question
24. If inventory that was previously purchased and recorded at a cost of $3.000 is sold to a customer for $4,000 cash, the journal
24. If inventory that was previously purchased and recorded at a cost of $3.000 is sold to a customer for $4,000 cash, the journal entry to record the sale would include O a debit to Inventory of $3,000 a debit to Sales Revenues of $4,000 a credit to Sales Revenues of $1,000 a credit to Cost of Goods Sold of $3,000 none of these 25. Which of the following accounts typically has a credit balance at the end of an accounting period? Accounts Receivable Capital Stock Cost of Goods Sold all of these none of these
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