Tablets Plus made a sale for $2,000 cash, the cost of theses goods is $1,200. When a company uses the perpetual inventory system the journal entry would be: Accounts Receivable Sales Cost of Goods Sold . Merchandise Inventory Sales Revenues Merchandise Inventory Cash Cost of Goods Sold Cash Sales Revenue Cost of Goods Sold Cash Merchandise Inventory Sales Revenue Merchandise Inventory Cost of Goods Sold 2,000 - 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 ↑

Tablets Plus made a sale for $2,000 cash, the cost of theses goods is $1,200. When a company uses the perpetual inventory system the journal entry would be: Accounts Receivable Sales Cost of Goods Sold . Merchandise Inventory Sales Revenues Merchandise Inventory Cash Cost of Goods Sold Cash Sales Revenue Cost of Goods Sold Cash Merchandise Inventory Sales Revenue Merchandise Inventory Cost of Goods Sold 2,000 - 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 2,000 1,200 ↑

Name: Tablets Plus made a sale for $2,000 cash, the cost of theses goods is
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Description: Tablets Plus made a sale for $2,000 cash, the cost of theses goods is $1,200. When a company uses the perpetual inventory system the journal entry would be:Accounts Receivable• Sales.Cost of Goods SoldMerchandise InventorySales RevenuesMerchandise I

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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