Company A purchases goods for cash on January 15. They purchase 10 items at a cost of $50 peritem. 5 of these items are sold on January 29 for $700 cash. What is/(are) the entry/(ies) onJanuary 29 to record the sale of the goods?O Debit Cash$700Credit Sales RevenueS700O Debit Accounts Receivable $700Credit Sales Revenue$700Debit Cost of Goods Sold $250Credit Inventory$250Debit Cash$700Credit Sales Revenue$700Debit Cost of Goods Sold S250Credit Inventory$250O Debit Cash$700Credit Sales Revenue$700Debit Cost of Goods Sold $500Credit Inventory5500

Company A purchases goods for cash on January 15. They purchase 10 items at a cost of $50 per item. 5 of these items are sold on January 29 for $700 cash. What is/(are) the entry/(ies) on January 29 to record the sale of the goods? O Debit Cash S700 Credit Sales Revenue S700 O Debit Accounts Receivable S700 Credit Sales Revenue $700 Debit Cost of Goods Sold $250 Credit Inventory $250

Company A purchases goods for cash on January 15. They purchase 10 items at a cost of $50 per item. 5 of these items are sold on January 29 for $700 cash. What is/(are) the entry/(ies) on January 29 to record the sale of the goods? O Debit Cash S700 Credit Sales Revenue S700 O Debit Accounts Receivable S700 Credit Sales Revenue $700 Debit Cost of Goods Sold $250 Credit Inventory $250

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 17MC: Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this...

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