TRANSACTION ANALYSIS: Dartmouth Ties Corporation is a merchandising company that has been in operation for two years. The company sell high-end ties for men. They purchase their inventory from overseas companies with fair trade agreements and sell their products in the U.S. Below find a number of activities that occurred during the year. Please select the correct journal entry for each transaction. Transactions that are related will have the same transaction number. (Answer Q.17 to Q.33)

Q17. Transaction 1A - November 20, 20xx: Dartmouth Ties Corporation sold 1,000 items of merchandise to Nordstrom at an invoice price of $200,000 ($200 per item); terms 2/10, n/30. Indicate the correct transaction below:

	A.	Debit: Cash Credit: Sales Revenue
	B.	Debit: Acct Receivable Credit: Inventory
	C.	Debit: Acct Receivable Credit: Sales Revenue
	D.	Debit: Cash Credit: Acct Receivable

TRANSACTION ANALYSIS: Dartmouth Ties Corporation is a merchandising company that has been in operation for two years. The company sell high-end ties for men. They purchase their inventory from overseas companies with fair trade agreements and sell their products in the U.S. Below find a number of activities that occurred during the year. Please select the correct journal entry for each transaction. Transactions that are related will have the same transaction number. (Answer Q.17 to Q.33)

Q18. Transaction 1B November 20, 20xx: The cost of merchandise sold in the Transaction 1A was $120,000. Indicate the correct transaction below:

	A.	Debit: Cash Credit: Cost of Goods Sold
	B.	Debit: Cost of Goods Sold Credit: Inventory
	C.	Debit: Inventory Credit: Cost of Goods Sold
	D.	Debit: Cash Credit: Inventory

TRANSACTION ANALYSIS: Dartmouth Ties Corporation is a merchandising company that has been in operation for two years. The company sell high-end ties for men. They purchase their inventory from overseas companies with fair trade agreements and sell their products in the U.S. Below find a number of activities that occurred during the year. Please select the correct journal entry for each transaction. Transactions that are related will have the same transaction number. (Answer Q.17 to Q.33)

Q19. Transaction 1C December 10, 20xx: Nordstrom paid in full for the items purchased on November 20. Indicate the correct transaction below:

	A.	Debit: Cash Credit: Sales Revenue
	B.	Debit: Cash Credit: Acct Receivable
	C.	Debit: Acct Receivable Credit: Cash
	D.	Debit: Sales Revenue Credit: Acct Receivable