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Mad Hatters, Inc. sells 860 hats for $15.00 each. The buyer, Alice, pays one half in cash and one half on account. Mad Hatters, Inc.
Mad Hatters, Inc. sells 860 hats for $15.00 each. The buyer, Alice, pays one half in cash and one half on account. Mad Hatters, Inc. originally purchased the hats for $7.00 each one month ago. In the Journal entry to record the transaction, what amount would Mad Hatters, Inc. record for the Sales Revenue? Use a positive amount to indicate a DEBIT entry Use a negative amount to indicate a CREDIT entry.
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