AB Retailers sold all the goods for $4,500 to SK Stores on terms 3/10, n/45.

Answer

Accounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBrokerage Fees ExpenseCashCommon SharesCost of Goods SoldDividend RevenueInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryNotes PayablePrepaid RentProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense

Answer

Answer

Accounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseBrokerage Fees ExpenseCashCommon SharesCost of Goods SoldDividend RevenueInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryNotes PayablePrepaid RentProperty, Plant & EquipmentRent ExpenseSalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense

Answer

Recorded cost of goods sold for above sales