The records of Atlantic Inc. for 2019 show that it completed goods costing $160,000 and that it
Question:
The records of Atlantic Inc. for 2019 show that it completed goods costing $160,000 and that it sold goods costing $209,000 for the year. Give the entries in general journal form on December 31, 2019, to record the cost of goods completed and the cost of goods sold for the year.
Step by Step Answer:
GENERAL JOURNAL PAGE DATE DESCRIPTION POST REF DEBIT CRED...View the full answer
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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