Company C, an automobile manufacturer, sold 2 trucks to a customer for $60,000 on January 5,...
Company C, an automobile manufacturer, sold 2 trucks to a customer for $60,000 on January 5, 2014. Each of the trucks has a manufacturing cost of $20,000. What would be the entry to record the transfer of inventory to the customer? Accounts
Raw Materials
Work in Process
Finished Goods
Cost of Goods Sold
Amounts $40,000 $40,000 $60,000 $60,000
Homework Answers
| General Journal | Debit | Credit |
| Cost of Goods Sold | $40,000 | |
| Finished Goods | $40,000 |
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Company C, an automobile manufacturer, sold 2 trucks to a
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