Landon Jewelers uses the perpetual inventory system. On April 2, Landon sold merchandise with a cost of $4,500 for $9,000 to a customer on account with terms of 1/15, n/30. The journal entry to record the cost of goods sold would be: A. Cost of Goods Sold 4,500 Accounts Receivable 4,500 B. Cost of Goods Sold 4,500 Merchandise Inventory 4,500 C. Sales Revenue 4,500 Cost of Goods Sold 4,500 D. Merchandise Inventory 4,500 Cost of Goods Sold 4,500

Landon Jewelers uses the perpetual inventory system. On April 2, Landon sold merchandise with a cost of $4,500 for $9,000 to a customer on account with terms of 1/15, n/30. The journal entry to record the cost of goods sold would be: A. Cost of Goods Sold 4,500 Accounts Receivable 4,500 B. Cost of Goods Sold 4,500 Merchandise Inventory 4,500 C. Sales Revenue 4,500 Cost of Goods Sold 4,500 D. Merchandise Inventory 4,500 Cost of Goods Sold 4,500

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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