KAT4
Feb 9, 2007, 05:54 PM
What is the journal entry for this under the periodic inventory system:
Sold goods on account for $21,000 and made cash sales of $18,000.
This is what I think it is. Is this correct or is there more to it?
Dr. Cash 18,800
Dr. A/R 21,000
Cr. Sales 39,800
Sold goods on account for $21,000 and made cash sales of $18,000.
This is what I think it is. Is this correct or is there more to it?
Dr. Cash 18,800
Dr. A/R 21,000
Cr. Sales 39,800