On March 12th, Company B sold $800 of inventory to a customer for $1,400. The customer paid $400 and promised to pay the difference within 10 days. Based on this transaction, match the account on the left with its appropriate debit or credit entry on the right. Inventory [Choose] Accounts Receivable [Choose] Cash [ Choose ) Cost of Goods Sold [ Choose ] Sales Revenue V[ Choose ] Credit $1,400 This account should not be indcluded in this entry. Debit $1,000 Debit $800 Net Income Credit $800 Debit $400 Debit $1,400

On March 12th, Company B sold $800 of inventory to a customer for $1,400. The customer paid $400 and promised to pay the difference within 10 days. Based on this transaction, match the account on the left with its appropriate debit or credit entry on the right. Inventory [Choose] Accounts Receivable [Choose] Cash [ Choose ) Cost of Goods Sold [ Choose ] Sales Revenue V[ Choose ] Credit $1,400 This account should not be indcluded in this entry. Debit $1,000 Debit $800 Net Income Credit $800 Debit $400 Debit $1,400

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 8E: Toby Company had the following sales transactions for March: Mar. 6Sold merchandise on account to...

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