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Anderson Furniture sold 15 desks, with a cost of $7,500, for $13,250 on account. Anderson uses the ...

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Anderson Furniture sold 15 desks, with a cost of $7,500, for $13,250 on account. Anderson uses the ...

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

Edition: 11^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 233 times

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Stevea26

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6 years ago

More solutions for this book are available here

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jj88888nb Author

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Correct!

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