Question
The following transactions of M&B Merchandise Company are given: January 2, 2019 Purchased merchandise for TL 23.000 under the condition 10/6; n/30. January 4, 2019
The following transactions of M&B Merchandise Company are given:
| January 2, 2019 | Purchased merchandise for TL 23.000 under the condition 10/6; n/30. |
| January 4, 2019 | Returned merchandise worth TL 6.000. |
| January 6, 2019 | Sold merchandise for TL 8.000 under the condition 4/7; n/30. The cost of merchandise sold was TL 5.000.
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Which of the followings are true?
| The journal entry for the transaction from Jan 4 has the debit item Sales Revenue
| ||
| The journal entry for the transaction from Jan 2 has the debit item Merchandise Inventory
| ||
| The journal entry for the transaction from Jan 4 has the debit item Merchandise Inventory | ||
| The journal entry for the transaction from Jan 6 has the item Merchandise Inventory on credit side
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