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On March 2, Marigold Corp. sold $850,000 of merchandise on account to Sheffield Company, terms 2/10, n/30. The cost of the merchandise sold was $602,000.
On March 2, Marigold Corp. sold $850,000 of merchandise on account to Sheffield Company, terms 2/10, n/30. The cost of the merchandise sold was $602,000. (Credit account titles are automatically ndented when amount is entered. Do not indent manually. If no entry is required, select No Entry for the account titles and enter 0 for the amount Account Titles and Explanation Debit Credit ccounts Receivable 850000 850000 (To record credit sale) Cost of Goods Sold 602000 Inventony 602000 To record cost of merchandise sold)
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