35 On November 2, 2010, Griffey Company has cash sales of $4,200 from merchandise having a cost of $3,000. The entries to record the day's cash sales will include: a. $3,000 credit to Cost of Goods Sold. O b. $3,000 credit to Merchandise Inventory. O . $4,200 debit to Accounts Receivable. O d. $4,200 credit to Cash.

35 On November 2, 2010, Griffey Company has cash sales of $4,200 from merchandise having a cost of $3,000. The entries to record the day's cash sales will include: a. $3,000 credit to Cost of Goods Sold. O b. $3,000 credit to Merchandise Inventory. O . $4,200 debit to Accounts Receivable. O d. $4,200 credit to Cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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