A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of the goods is $1,600. Which of the following journal entries would correctly record this? Dr Cr $ $ A Inventory account 800 Purchases account 800 B Drawings account 800 Purchases account 800 C Sales account 1,600 Drawings account 1,600 D Drawings account 800 Sales account 800
A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of the goods is $1,600. Which of the following journal entries would correctly record this? Dr Cr $ $ A Inventory account 800 Purchases account 800 B Drawings account 800 Purchases account 800 C Sales account 1,600 Drawings account 1,600 D Drawings account 800 Sales account 800
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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A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of
the goods is $1,600.
Which of the following
Dr Cr
$ $
A Inventory account 800
Purchases account 800
B Drawings account 800
Purchases account 800
C Sales account 1,600
Drawings account 1,600
D Drawings account 800
Sales account 800
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