Mountain Day Spa sold merchandise inventory on credit, terms n/30, to Marvin Smith, $400. Cost of goods sold was $250. When using a manual accounting information system, where should Mountain record this transaction, and what is the appropriate column in which to record the $250? Sales journal; Accounts Receivable DR, Sales Revenue CR Cash receipts journal; Cash DR, Sales Revenue CR Sales journal; Cost of Goods Sold DR, Merchandise Inventory Cash receipts journal; Cash DR, Accounts Receivable CR
Mountain Day Spa sold merchandise inventory on credit, terms n/30, to Marvin Smith, $400. Cost of goods sold was $250. When using a manual accounting information system, where should Mountain record this transaction, and what is the appropriate column in which to record the $250? Sales journal; Accounts Receivable DR, Sales Revenue CR Cash receipts journal; Cash DR, Sales Revenue CR Sales journal; Cost of Goods Sold DR, Merchandise Inventory Cash receipts journal; Cash DR, Accounts Receivable CR
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 9MC: A customer just charged $150 of merchandise using MasterCard. Which special journal would the...
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Mountain Day Spa sold merchandise inventory on credit, terms n/30, to Marvin Smith, $400. Cost of goods sold was $250. When using a manual
- Sales journal;
Accounts Receivable DR, Sales Revenue CR - Cash receipts journal; Cash DR, Sales Revenue CR
- Sales journal; Cost of Goods Sold DR, Merchandise Inventory
- Cash receipts journal; Cash DR, Accounts Receivable CR
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