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Please help with these accy questions. tion would typically include debit The journal entry(ies) by Jones for the Jan. 16 transac both A. Accounts Receivables
Please help with these accy questions.
tion would typically include debit The journal entry(ies) by Jones for the Jan. 16 transac both A. Accounts Receivables and Cost of Goods Sold. B. Sales Discounts and Cost of Goods Sold. C. Sales Returns and Allowances and Inventory D. Sales Revenues and Sales Returns and Allowances. E. none of these 10. The journal entry by Jones for the Jan. 23 receipt would include acredit to A. Accounts Receivable for $1,940. B. Accounts Receivable for $2,000. C. Cash for $2,000. D. Cash for $1,940. E. Sales Discounts for $60. Use the following information for the next 3 questions. Jimbo 's buys sp them icy hot dogs in bulk and sells to street vendors. The owner's January inventory transactions are as follows: 1/1 Beginning inventory 2,000 cases at $10/cas 1/8 Sales 1/11 Purchases 1/14 Sales 1/21 Purchases 1/26 Sales 1,700 cases 1,000 cases at S1l/case 1,100 cases 1,200 cases at $12/case 1,100 cases L. Assuming the perpetual FIFO inventory method is used from inception, the amount of Cost of Goods Sold for the 1/14 sale would be A. $11,000. B. $11,800. C. S12,000 D. S12,100 E. none of these 12. Assuming the perpetual LIFO inventory method is used from inception, the amount of Cost of Goods Sold for the 1/14 sale would be A. $11,000. B. $11,800. C. $12,100. D. $13,200. E. none of theseStep by Step Solution
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