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Home Q & A Board Other Fields Homework Help Business Accounting
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laurenamarissa laurenamarissa
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6 years ago
Donaldson Corporation uses a periodic inventory system. On January 1, inventory is $253,000. On April 5, Donaldson sells inventory with a selling price of $75,000 on account. The cost of the inventory sold is $50,000.  The journal entry (entries) to record the sale is (are) ________.
A) debit Cash and credit Sales Revenue
B) debit Accounts Receivable and credit Sales Revenue; debit Cost of Goods Sold and credit Inventory
C) debit Cash and Cost of Goods Sold and credit Sales Revenue and Inventory
D) debit Accounts Receivable and credit Sales Revenue
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Intermediate Accounting

Intermediate Accounting


Edition: 1st
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acslammeracslammer
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6 years ago
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laurenamarissa Author
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6 years ago
Thanks for your help!!
Helpmeplease11
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Yesterday
Smart ... Thanks!
riptide
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2 hours ago
Thank you, thank you, thank you!
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