Question
Zanabria Merchandise, Inc. sold goods costing $165,000 for $250,000, $150,000 in cash and the remainder on account. The journal entries for this transaction should be:
Zanabria Merchandise, Inc. sold goods costing $165,000 for $250,000, $150,000 in cash and the remainder on account. The journal entries for this transaction should be:
a.
Cash 250,000
Sales Revenue 250,000
Cost of Goods Sold 165,000
Finished Goods Inventory 165,000
b.
Cash 150,000
Accounts Receivable 100,000
Sales Revenue 250,000
Finished Goods Inventory 165,000
Cost of Goods Sold 165,000
c.
Accounts Receivable 250,000
Sales Revenue 250,000
Cost of Goods Sold 165,000
Finished Goods Inventory 165,000
d.
Cash 150,000
Accounts Receivable 100,000
Sales Revenue 250,000
Cost of Goods Sold 165,000
Finished Goods Inventory 165,000
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