Jan 1: 711 sold beverage products to a customer for $200 cash. The cost of the products is $75. What is the JE to record the Cost of Goods Sold? ○ A. Account Name Cost of Goods Sold Inventory B. Inventory D. Cost of Goods Sold Debit Credit 200 200 Account Name Debit Credit 75 75 Account Name Debit Credit Cost of Goods Sold 75 Inventory 75 Cash Sale Revenue Account Name Debit Credit 75 75
Jan 1: 711 sold beverage products to a customer for $200 cash. The cost of the products is $75. What is the JE to record the Cost of Goods Sold? ○ A. Account Name Cost of Goods Sold Inventory B. Inventory D. Cost of Goods Sold Debit Credit 200 200 Account Name Debit Credit 75 75 Account Name Debit Credit Cost of Goods Sold 75 Inventory 75 Cash Sale Revenue Account Name Debit Credit 75 75
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...
Related questions
Question
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage