Question
Ignore GST. An entity uses both general and special journals. The entity sold inventory on account 2/10, n/30, $200,000. (Cost of sales, $120,000) This transaction
Ignore GST. An entity uses both general and special journals. The entity sold inventory on account 2/10, n/30, $200,000. (Cost of sales, $120,000) This transaction should be recorded in: A) a general journal. B) a sales journal. C) a purchases journal. D) a cash receipts journal.
Please provide some explanation as well.
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Survey of Accounting
Authors: Carl S Warren
6th edition
978-113318912, 1133189121, 978-1133189121
