The cost of the items sold
Question # 00766613
Posted By:
Updated on: 06/24/2020 06:20 AM Due on: 06/28/2020
On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Vander uses the periodic inventory system. The journal entry or entries that Vander will make on September 12 is:
|
Sales |
5,800 |
|
|
Accounts receivable |
|
5,800 |
|
Sales |
5,800 |
|
|
Accounts receivable |
|
5,800 |
|
Cost of goods sold |
4,000 |
|
|
Merchandise Inventory |
|
4,000 |
|
Accounts receivable |
5,800 |
|
|
Sales |
|
5,800 |
|
Accounts receivable |
5,800 |
|
|
Sales |
|
5,800 |
|
Cost of goods sold |
4,000 |
|
|
Merchandise inventory |
|
4,000 |
|
Accounts receivable |
4,000 |
|
|
Sales |
|
4,000 |
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