Homework Answers
OPTION C:
|
Cash Sales revenue |
$4600 . |
. $4600 |
|
Cost of goods sold Merchandise inventory |
$1000 . |
. $1000 |
EXPLANATION:
When goods are sold, cash is received therefore cash account is debited with sales revenue account credited. At the same time, due to sale inventories go out of the company hence they are credited
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A company that uses the perpetual inventory system sold goods to a customer for cash for...
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Forever Jewelers uses the perpetual inventory system. On April 2. Forever sold merchandise with a cost of $4,500 for $7,000 to a customer on account with terms of 1/15, 30 Which of the following journal entries correctly records the sales revenue? 6.930 6.930 4.500 4,500 OA Sales Revenue Accounts Receivable OB. Accounts Receivable Sales Revenue O C. Accounts Receivable Sales Revenue OD. Sales Revenue Cost of Goods Sold 6,930 6,930
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16-20 Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a...
16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a...
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Question 19 1 pts Our company uses a perpetual inventory system. On July 3, we sold...
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16-20
Weston Jewellers uses the perpetual inventory system. On April 2. Weston sold merchandise with a cost of 407 314,152 for delivery of the merchandise. Calculate the amount of net sales revenue Round any intermediary G ions and your fa 4/15.30 Westonad 150 custom count with the t hers ) O A 514.902 OR $8,487 OC. 514.258 OD. $14,652 ance is $35.000. Which of the following ould be included in the . The Merchandise inventory account balance is $80,000. A...
O Forever Jewelers uses the perpetual inventory system on April 2. Forever sold merchandise with a cost of 54.000 for $5.500 to a customer on account with forms of 415, 30 Which of the following umalis correctly records the payment received from the customer on April 2017 5,280 220 5.500 5.280 O A Cash Sales Discounts Forted Accounts Receivable O Cash Accounts Receivable Ос. Cash Accounts Receivable Sales Discounts Ford OD Cash Accounts Receivable 5.500 5.280 220 5.500 5.500
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