moncadadebbie9746 moncadadebbie9746
  • 26-02-2021
  • Business
contestada

If merchandise costing $500 is sold on account for $620, how is this transaction recorded when using a perpetual inventory system

Respuesta :

trammelmr
trammelmr trammelmr
  • 26-02-2021

Answer:

Explanation:

Debit Accounts Receivable and credit Sales Revenue for $620;

DEBIT: Cost of Goods Sold CREDIT: Inventory for $500

Answer Link

Otras preguntas

how many atoms are present in 4.0 mol of sodium
7. Which of the following rivers is the world's busiest waterway? A. Rhone B. Rhine C. Danube D. Seine
How many cm has a inch
Sarah's class recycled 3. 7 7/9 boxes of paper in a month. If they recycled another 9 2/8 boxes the next month what wasvthe total amount recycled
which of the following does NOT describe the process of summation? a. Two ESPSs are generated at the same time by two separate synapses, bringing the cell to th
find three acids and three bases used in your home. 1) what are theses acids and bases used for? 2)look up the chemical name and chemical formula of each acid a
Fill in the chart below. Please use the phrase ‘almost none’ for the lower two rows if it applies.
Which of the following ideas best fits with biological evolution by natural selection? 1.The most fit individuals are those with the highest reproductive succes
(TCO 4) Which of the following creates thymine dimers? (Points : 4) Nucleotide analogs Nitrous acid Ultraviolet light Benzopyrene Gamma rays
Which viruse reproduces & what reproductive cell ?