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harra harra
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6 years ago
The entries to record a $5,000 cash sale under a periodic inventory system, when the cost of the merchandise is $3,200, include a:
A) debit to Inventory for $5,000.
B) credit to Sales Revenue for $5,000.
C) debit to Cost of Goods Sold for $3,200.
D) debit to Accounts Receivable for $5,000.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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migrodmigrod
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6 years ago
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harra Author
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#2
6 years ago
Very timely, excellent answer
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