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Question 7 2 pts When a job costing $2,000 is sold, one of the journal entries would be: Debit Finished Goods 2,000; Credot COGS 2,000
Question 7 2 pts When a job costing $2,000 is sold, one of the journal entries would be: Debit Finished Goods 2,000; Credot COGS 2,000 Debit Finished Goods 2,000; Credit WIP 2,000 Debit COGS 2,000; Credit FG 2,000 Debit WIP 2,000; Credit FG 2,000 Question 8 2 pts If the job sold for retail price of $2,000, the journal entry would be: Debit COGS 2,000; Credit FG 2,000 Debit Finished Goods 2,000; Credit COGS 2,000 Debit AR 2,000; Credit Sales 2,000 Debit Finished Goods 2,000: Credit WIP 2,000
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