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View Full Version : How do you record cash sales and cost of merchandise sold?


ayaprun
Dec 5, 2010, 01:32 PM
Cash sales for April 8-13 were $25,800. The cost of merchandise sold is $15,480.
Is it:
Dr Cash $25800
Cr Sales $25800

Dr cost of merchandise sold $15480
Cr Merchandise inventory $15480

Just Looking
Dec 5, 2010, 02:15 PM
That's right.