{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-05T01:23:41-04:00", "answer_date": "2024-06-05 01:23:41", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2281727", "url": "\/study-help\/questions\/transaction-details-transaction-debit-credit-sale-of-merchandise-40000-2281727", "question_creation_date_js": "2024-06-05T01:23:41-04:00", "question_creation_date": "Jun 05, 2024 01:23 AM", "meta_title": "[Solved] Transaction Details: Transaction Debit Cr | SolutionInn", "meta_description": "Answer of - Transaction Details: Transaction Debit Credit Sale of Merchandise - $40,000 Cost of Goods Sold $20,000 - Inventory $20 | SolutionInn", "meta_keywords": "transaction,details,debit,credit,sale,merchandise,-,$40,000,cost,goods,sold,$20,000", "question_title_h1": "Transaction Details: Transaction Debit Credit Sale of Merchandise - $40,000 Cost of Goods Sold $20,000 - Inventory $20,000 - Record the journal entry for the", "question_title": "Transaction Details: Transaction Debit Credit Sale of Merchandise - $40,000 Cost of", "question_title_for_js_snippet": "Transaction Details Transaction Debit Credit Sale of Merchandise $40,000 Cost of Goods Sold $20,000 Inventory $20,000 Record the journal entry for the sale of merchandise Discuss the impact on the financial statements ", "question_description": "

Transaction Details:<\/strong>
Transaction<\/th>Debit<\/th>Credit<\/th><\/tr><\/thead>
Sale of Merchandise<\/td>-<\/td>$40,000<\/td><\/tr>
Cost of Goods Sold<\/td>$20,000<\/td>-<\/td><\/tr>
Inventory<\/td>$20,000<\/td>-<\/td><\/tr><\/tbody><\/table>Record the journal entry for the sale of merchandise. Discuss the impact on the financial statements. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
<\/p>", "transcribed_text": "", "related_book": { "title": "Financial Reporting Financial Statement Analysis and Valuation", "isbn": "324302959, 978-0324302967, 324302967, 978-0324302950", "edition": "6th edition", "authors": "Clyde P. Stickney", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/851.jpg", "uri": "\/textbooks\/financial-reporting-financial-statement-analysis-and-valuation-6th-edition-851", "see_more_uri": "" }, "free_related_book": { "isbn": "0824821378", "uri": "\/textbooks\/passages-to-modernity-motherhood-childhood-and-social-reform-in-early-twentieth-century-japan-1st-edition-978-0824821371-262378", "name": "Passages To Modernity Motherhood Childhood And Social Reform In Early Twentieth Century Japan", "edition": "1st Edition" }, "question_posted": "2024-06-05 01:23:41", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/bullying-is-a-problem-at-any-age-but-especially-for", "description": "Bullying is a problem at any age but especially for students aged 12 to 18. A study showed that 7.2% of all students in this age bracket reported being bullied at school during the past six months...", "stars": 3 }, { "url": "\/study-help\/law-for-business\/when-he-was-a-high-school-senior-aronson-researched-colleges", "description": "When he was a high school senior, Aronson researched colleges on the Internet. A primary consideration was cost and the nature and types of financial aid. The University of Mississippis (UM) website...", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/the-weekly-demand-for-a-magazine-in-a-news-shop-1983395", "description": "The weekly demand for a magazine in a news shop can be represented by a random variable with the following probability function: The owner of the shop buys each copy of the magazine for $4 and she...", "stars": 3 }, { "url": "\/taxable-income-and-pretax-financial-income-would-be-identical-for-ursula", "description": "Taxable income and pretax financial income would be identical for Ursula Co. except for its depreciation on equipment purchased in 2014 for $500,000 and estimated costs of warranties. The following...", "stars": 3 }, { "url": "\/study-help\/questions\/is-owner-capital-the-same-as-common-stock-9826497", "description": "Is Owner, Capital the same as common stock?", "stars": 3 }, { "url": "\/study-help\/questions\/make-literature-survey-outline-literature-will-be-based-on-the-817526", "description": "Make literature survey outline. Literature will be based on the Statement of the Problem. Give the theme, content and relevance of the study ANSWER TO THE LITERATURE SURVEY OUTLINE WILL BE BASED ON...", "stars": 3 }, { "url": "\/study-help\/questions\/the-texas-bill-of-rights-section-24-states-that-the-2240465", "description": "The Texas Bill of Rights, Section 24 states that the \"Military shall _______ to the civil authority.\" Question 99 options: at all times be subordinate. at times of peace be subordinate. at no time be", "stars": 3 }, { "url": "\/study-help\/questions\/question-5-of-21-a-significant-downfall-of-the-milestone-1609038", "description": "Question 5 of 21. A significant downfall of the Milestone chart is that it does not effectively portray the relationships, dependencies, and constraints among the project activities and events. Which...", "stars": 3 }, { "url": "\/study-help\/questions\/-1780722", "description": "Lamont Company is a Canadian company that produces electronic switches for the telecommunications industry. Lamont regularly imports component parts from Sousa Ltd . , a supplier located in Mexico,...", "stars": 3 }, { "url": "\/study-help\/questions\/read-the-article-and-pick-out-a-statistical-concept-from-1005373", "description": "Read the article and pick out a statistical concept from the article that relates to the course material we have covered thus far. Explain how the concept relates to course topics and give an example...", "stars": 3 }, { "url": "\/study-help\/questions\/24-air-weegotcha-overbooks-as-many-as-five-passengers-per-1003381", "description": "24. Air Weegotcha overbooks as many as five passengers per flight because some passengers with reservations do not show up for the flight. The airline's records indicate the following probabilities...", "stars": 3 }, { "url": "\/study-help\/questions\/please-assist-answering-e-oriole-corporation-has-collected-the-following-7110613", "description": "please assist answering (e) Oriole Corporation has collected the following information after its first year of sales. Sales were $1,320,000 on 88,000 units; selling expenses $220,000 (40\\% variable...", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/given-the-nature-of-their-product-do-pharmaceutl-cal-companies-1550541", "description": "Given the nature of their product. do pharmaceutl cal companies have ethical responsibilities that other corporations don~ have? In your view, are the large U.S. drug companies good corporate...", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/assess-the-motivatloos-of-drug-companies-that-do-their-testing-1550539", "description": "Assess the motivatloos of drug companies that do their testing overseas. Do you think test subjects are being exploited or taken aelvantage of? Under what circum stances, if any, are companies...", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/when-it-comes-to-lifesaving-drugs-do-pharmaceutical-companies-have-1550536", "description": "When it comes to life-saving drugs, do pharmaceutical companies have a moral obligation to make them avail able In poor countries at little or no cost? Explain why or why not. Wllat about effective...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/financial-ratios-ratio-formula-value-current-ratio-current-assets-2281726", "next": "\/study-help\/questions\/calculation-item-amount-total-revenue-150000-cost-of-goods-sold-2281728" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Transaction Details: Transaction Debit Credit Sale of Merchandise - $40,000 Cost of", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/transaction-details-transaction-debit-credit-sale-of-merchandise-40000-2281727" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }": "1" } }