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Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $980 and sold them on credit to Percy Corporation
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $980 and sold them on credit to Percy Corporation for $1,435. The complete journal entry to be made by Wyman at the time of this sale is: Multiple Choice Debit Accounts Receivable $1,435; credit Sales $1,435; debit Cost of Goods Sold $980; credit Finished Goods Inventory $980. Debit Accounts Receivable $1,435; credit Sales $455; credit Finished Goods Inventory $980. Debit Cost of Goods Sold $1,435, credit Sales S1,435
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