Wildlife Wholesale Supply sold birdseed to a retailer for $860, receiving cash at the time of sale. The cost of the birdseed was $370. When recording the collection from the customer, in its cash receipts journal, Wildlife would enter: $860 in the Accounts Receivable Dr. column, $860 in the Cash Cr. column; and $370 in the Cost of Goods Sold Dr./Inventory Cr. column. $860 in the Cash Dr. column; $860 in the Sales Cr. column; and $370 in the Cost of Goods Sold Dr./Inventory Cr. column. $370 in the Cash Dr. column and $370 in the Accounts Receivable Cr. column. $860 in the Cash Dr. column; $860 in the Sales Cr. column; and $370 in the Other Accounts Cr. column. $860 in the Cash Dr. column and $860 in the Accounts Receivable Cr. column.

Wildlife Wholesale Supply sold birdseed to a retailer for $860, receiving cash at the time of sale. The cost of the birdseed was $370. When recording the collection from the customer, in its cash receipts journal, Wildlife would enter: $860 in the Accounts Receivable Dr. column, $860 in the Cash Cr. column; and $370 in the Cost of Goods Sold Dr./Inventory Cr. column. $860 in the Cash Dr. column; $860 in the Sales Cr. column; and $370 in the Cost of Goods Sold Dr./Inventory Cr. column. $370 in the Cash Dr. column and $370 in the Accounts Receivable Cr. column. $860 in the Cash Dr. column; $860 in the Sales Cr. column; and $370 in the Other Accounts Cr. column. $860 in the Cash Dr. column and $860 in the Accounts Receivable Cr. column.

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Description: Wildlife Wholesale Supply sold birdseed to a retailer for $860, receiving cash at the time of sale. The cost ofthe birdseed was $370. When recording the collection from the customer, in its cash receipts journal, Wildlifewould enter:$860 in the Acco

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 9MC: A customer just charged $150 of merchandise using MasterCard. Which special journal would the...

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