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Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $840 and sold them on credit to Percy Corporation
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $840 and sold them on credit to Percy Corporation for $1,155. The complete journal entry to be made by Wyman at the time of this sale is: (8 03:09:11 Multiple Choice O Debit Accounts Receivable $1,155; credit Sales $1,155; debit Cost of Goods Sold $840; credit Finished Goods Inventory $840. o o O Debit Accounts Receivable $1,155; credit Sales $315; credit Finished Goods Inventory $840. O Debit Cost of Goods Sold $1,155; credit Sales $1,155. O Debit Finished Goods Inventory $840, debit Sales $1,155; credit Accounts Receivable $1,155, credit Cost of Goods Sold $840 O Debit Accounts Receivable $1,155; debit Selling expense $840; credit Sales $1,155; credit Cost of Goods Sold $840
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