Ask Experts Questions for FREE Help !
Ask
    Tissia's Avatar
    Tissia Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 11, 2008, 11:34 AM
    Journalize Transaction
    Sold inventory on credit terms 2/15, n/45, $3,900 (cost, $1,800).
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 23, 2008, 02:30 PM

    Debit Accounts Reveivable 3,900
    Credit Sales Revenue 3,900

    Debit Cost of Goods Sold 1,800
    Credit Merchandise Inventory 1,800
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Transaction [ 2 Answers ]

Could someone please help me out? I need to record a transaction for receiving $70,000 for the sale of 50,000 shares of $1 par value common stock. Would I record this as a debit to cash for the 70,000, then a credit to common stock for 50,000 and a 20,000 credit to premium on common stock? ...

Journalizing a transaction [ 1 Answers ]

How do you journalize the transaction "Cash fees earned for May 1-16"

View more questions Search