On November 2, 2022, Swifty Company has cash sales of $6050 from merchandise having a cost of $3600. The entries to record the day's cash sales will include: a $6050 debit to Accounts Receivable. • a $3600 credit to Cost of Goods Sold. a $3600 credit to Inventory. ● a $6050 credit to Cash.
On November 2, 2022, Swifty Company has cash sales of $6050 from merchandise having a cost of $3600. The entries to record the day's cash sales will include: a $6050 debit to Accounts Receivable. • a $3600 credit to Cost of Goods Sold. a $3600 credit to Inventory. ● a $6050 credit to Cash.
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 14MC: A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays...
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