Question
Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $17,300, with terms 2/10, net 30. The cost
Journalize the following merchandise transactions. The company uses the perpetual inventory system.
a. Sold merchandise on account, $17,300, with terms 2/10, net 30. The cost of the goods sold was $12,600.
| Sale | Accounts Receivable | ||
| Cost of Goods Sold | |||
| Cost | Inventory | ||
| Cash |
b. Received payment within the discount period.
| Sales | |||
| Accounts Receivable |
Are these categories and $ amounts correct? |
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Certificate Of Cloud Auditing Knowledge Study Guide
Authors: Isaca
1st Edition
1604208619, 978-1604208610
