sunfiregirl
Apr 9, 2008, 07:53 PM
A review of the cash sales invoices determined that one sale of $450 (cost of merchandise $142) was unearned.
This is saying that it has been recorded but have to undo the sale and you have the cash.
Is this correct?
Dr. Unearned sales
Cr. Sales
Dr. Inventory
Cr. Cost of Goods Sold
This is saying that it has been recorded but have to undo the sale and you have the cash.
Is this correct?
Dr. Unearned sales
Cr. Sales
Dr. Inventory
Cr. Cost of Goods Sold