Question
select the correct journal entry for each transaction.On June 10, 2016, Chris took an order from Ben for one game-worn Tennessee State College basketball jersey.
select the correct journal entry for each transaction.On June 10, 2016, Chris took an order from Ben for one game-worn Tennessee State College basketball jersey. Ben paid $300 of the total $500 price in cash on that day and agreed to pay back the remaining amount in one month. He took possession of the jersey right after he paid the cash. Select the correct journal entry for Chriss realizing of revenue:
| A. Debit Cash $300, Debit A/R $200; Credit Revenue $500 | ||
| B. Debit Cash $200, Debit A/R $300; Credit Revenue $500 | ||
| C. Debit Cash $500; Credit Revenue $500 | ||
| D. Debit A/R $500; Credit Revenue $500 |
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Sales Audit The Sales Managers Playbook For Getting Control Of The Selling Cycle And Improving Results
Authors: Corey Hutchison
1st Edition
0595421342, 978-0595421343
