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I'm currently working on journal entries. It states, Delivered equipment to Rolm Co. (Jan 6) and recorded the sale at $18,000, COS: $8100. Balance on
I'm currently working on journal entries. It states, "Delivered equipment to Rolm Co. (Jan 6) and recorded the sale at $18,000, COS: $8100. Balance on account.
How would I put this as an entry?
The previous entry (Jan 6) was "Received cash from a corporate client, Rolm Co, as an advance payment for a special order of fitness equipment, $8,000. (Hint: Unearned Revenue)
The chart of accounts does include sales and cost of sales.
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