On March 2, Kingbird, Inc. sold $954,000 of merchandise on account to Ayayai Company, terms 4/10, n/30. The cost of the merchandise sold was $590,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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Ответ:
Following Journal Entries are recorded for Kingbird, Inc
Explanation:
March 02
Debit: Account Receivable = $954,000
Credit: Sale = $954,000
(Credit Sale is Recorded)
Debit: Cost of Good Sold = $590,000
Credit: Inventory = $590,000
(To Record Cost of merchandise Sold)
Ответ: