Question
Henry Company has inventory costing $15,000. They sell the inventory for $25,000. The customer pays with $10,000 cash and a $15.000 receivable. Which of
Henry Company has inventory costing $15,000. They sell the inventory for $25,000. The customer pays with $10,000 cash and a $15.000 receivable. Which of the following is NOT included in the journal entry used to record this sale? CREDIT to Inventory for $15,000 DEBIT to Cost of Goods Sold for $15,000 O DEBIT to Accounts Receivable for $15,000 O CREDIT to Gain on Sale for $10,000 O CREDIT to Sales Revenue for $25,000
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Auditing and Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
6th edition
978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343
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