Question

widget sales in jan to customers on account, totally 220,000 cost 50 percent, what the t account entry.

Answer 1

Journal Entries
Date	Account Title and explanation	Debit		Credit
JAN	Account receivable	$             2,20,000
	Sales Revenue			$                  2,20,000
JAN	Cost of Goods Sold	$             1,10,000
	Inventory			$                  1,10,000
	T Accounts we can used for is as below,
	1) Account Receivable
	2) Sales Revenue
	3) Cost of Goods Sold
	4) Inventory
	Sales Account
	Account Recivable	$             2,20,000
	Account Receivable Account
				$                  2,20,000	By Sales
	Cost of Goods Sold Account
				$                  1,10,000	Inventory
	Inventory Account
	Cost of Goods Sold	$             1,10,000