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8 X Company sold Y Company merchandise on account FOB shipping point, 2/10, net 30, for $10,000. The cost of the merchandise sold was $6,000.
8 X Company sold Y Company merchandise on account FOB shipping point, 2/10, net 30, for $10,000. The cost of the merchandise sold was $6,000. The entries X Company makes to record the sale is: A. Accounts Receivable-Y Company, debit $10,000 and Cost of Merchandise Sold, debit $6,000; Cash, credit $10,000 and Accounts Receivable-Y Company credit, $6,000. OB. Accounts Receivable - Y Company, debit $9,800 and Cost of Merchandise Sold, debit $6,000; Sales Reveque, credit $9,800 and Merchandise Inventory, credit $6,000 OC. Accounts Receivable-Y Company, debit $10,000 and Merchandise Inventory, debit $6,000; Sales Revenue, credit $10,000 and Cost of Merchandise Sold credit, $6,000 OD.Cash, debit $9,800 and Merchandise Inventory, debit $6,000; Sales Revenue, credit $9,800 and Cost of Merchandise Sold, debit $6,000
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