subject: accounting

Red's Electronics had an inventory of 20 TV sets at a cost of $400 each. Assuming the company uses a perpetual inventory system, which of the following is not a part of the journal entry for this transaction. -Sold 5 TV sets to CornerStore Co. for $600 each, terms 1/15, n/30 m O Cr. Sales Revenue 2000 Dr. Inventory 2000 O Dr COGS 3000 Dr. A/R 3000 The income statement for Hara Co. for the year ended December 31, 2020 is as follows: HARA COMPANY Income Statement For the Year Ended December 31, 2020 Revenues Sales revenue $53,000 Interest revenue 4.000 Total revenues.. $57,000 Expenses Cost of goods sold... 30,000 Salaries and wages expense 18,000 Interest expense.. 1.500 Total expenses. 49,500 Net income...... $ 7.500 Dr. Income Summary 30000 Cr. COGS 30000 Dr. Sales Revenue 53000 Cr. Income Summary 53000 Dr. COGS 30000 Cr. Income Summary 30000 O Dr. Owner's Capital 3 Backwire Inc. has the balance of inventory in the accounting ledger as $775. The firm makes a physical count of inventory at the end of the month to realize that it has only $750 of merchandise at hand. Based on this data, what is the entry Backwire should make before preparing its adjusted trial balance? (You should select at least two from the list below) Dr. Inventory 25 Dr. Income Summary 25 Dr. COGS 25 Cr. COGS 25 Cr. Inventory 25 credit, credit credit 5 Red's Electronics had an inventory of 20 TV sets at a cost of $400 each. Assuming the company uses a perpetual inventory system, which of the following is a part of the journal entry for this transaction. -Purchased 7 TV sets at a cost of $250 each from Vestel, terms 2/10, n/30. Dr. A/P 1750 Cr. Inventory 1750 Dr Cash 1715 Cr. A/P 1750