Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.

Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.

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Description: Proctoring Enabled Exam 2 Version A O3SavedMitchel uses a perpetual Inventory system. Mitchell sells a computer from inventory for $1,198 on credit. Mitchell originally bought the computer fromBM for $790 What journal entry (entries) will Mitchell p

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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Angel Ake 10122122 Intro Acc Los angeles trade tech. acct1 exam 3 fall 2022 BERIS Problems 2 1.Sully sold merchandise to buck pon account 58900 terms 2/15 n/430 .the codt of the merchsndidse sold is435200. journALIZE THE ENTRIES FOR SULLY and aBUCK FOR THE SALE, PURCHAASE AND PAYMENT FOR THE AMOUNT DUE. ASSUME THAT ALL DISCOUNTS ARE TAKEN 2.FOR THECURRENT YEAR MERCHANDISE IS SOLD FOR 21100 IN CASH AND 341700 ON ACCOUNT. THE COST OF MERCHANDISE SOLD IS4217200. WHAT IS THE AMOUNT OF GROSS PROFIT. 12pts Lais Martinez
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