Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is:

Direct materials used	$	60,000
Direct labor used	$	110,300
Predetermined overhead rate (based on direct labor)		195	%
Goods transferred to finished goods	$	450,000
Cost of goods sold	$	462,000
Credit sales	$	842,400

Multiple Choice

• Debit Accounts Receivable $842,400; credit Cost of Goods Sold $842,400.

• Debit Finished Goods Inventory $462,000; debit Sales $842,400; credit Accounts Receivable $842,400; credit Cost of Goods Sold $462,000.

• Debit Cost of Goods Sold $462,000; credit Sales $462,000.

• Debit Accounts Receivable $842,400; credit Sales $842,400; debit Cost of Goods Sold $462,000; credit Finished Goods Inventory $462,000.

• Debit Accounts Receivable $842,400; credit Sales $380,400; credit Finished Goods Inventory $462,000.