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the journal entries for a merchandiser to record the sale of a product are shown. Please create an example of a company selling a good

  1. the journal entries for a merchandiser to record the sale of a product are shown. Please create an example of a company selling a good and illustrate the journal entries, recording the revenue side and also the cost side.

For example: A retailer sells a TV to a customer for $500, where it had cost the retailer $200.

Debit Cash (Asset) $500

Credit Sales (Revenue) $500

Debit Cost of Goods Sold (Expense) $200

Credit Merchandise Inventory (Asset) $200

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