Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.
Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter14: Adjustments For A Merchandising Business
Section: Chapter Questions
Problem 9SEB: JOURNAL ENTRIES UNDER THE PERPETUAL INVENTORY SYSTEM Sunita Computer Supplies entered into the...
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