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Home Q & A Board Other Fields Homework Help Business Accounting
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jj88888nb jj88888nb
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6 years ago
Anderson Furniture sold 15 desks, with a cost of $7,500, for $13,250 on account.  Anderson uses the periodic inventory system. Which of the following is the correct way to record this transaction?

A)
Sales Revenue13,250
      Accounts Receivable13,250

B)
Accounts Receivable13,250
      Sales Revenue13,250
Cost of Goods Sold7,500
        Merchandise Inventory7,500

C)
Accounts Receivable13,250
      Sales Revenue13,250

D)
Accounts Receivable13,250
      Sales Revenue13,250
Purchases7,500
        Merchandise Inventory7,500
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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Stevea26Stevea26
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#1
6 years ago
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jj88888nb Author
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#2
6 years ago
White Heavy Checkmark Correct!
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thank u!!
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ty
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