During March, Z Corp, transferred $66,000 from Work in Process to Finished Goods and sold manufactured goods with a cost of $72,000. Which of the following journal entries would be correct?" Multiple Choice debit to Work in Process of $66,000 and a credit to Finished Goods of $66,000. debit to Finished Goods of $72,000 and a credit to Sales of $72,000. debit to Finished Goods of $72,000 and a credit to Cost of Goods Sold of $72,000. debit to Finished Goods of $66,000 and a credit to Work in Process of $66,000.

During March, Z Corp, transferred $66,000 from Work in Process to Finished Goods and sold manufactured goods with a cost of $72,000. Which of the following journal entries would be correct?" Multiple Choice debit to Work in Process of $66,000 and a credit to Finished Goods of $66,000. debit to Finished Goods of $72,000 and a credit to Sales of $72,000. debit to Finished Goods of $72,000 and a credit to Cost of Goods Sold of $72,000. debit to Finished Goods of $66,000 and a credit to Work in Process of $66,000.

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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