Question 1 (Mandatory) (2 points) When a company sells its finished goods on credit, what would...

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Question 1 (Mandatory) (2 points) When a company sells its finished goods on credit, what would be the appropriate journal entry to record this transaction in General Journal? A) WIP debited and cash credited B) Finished goods debited and accounts receivable credited in addition to sales debited and cost of goods sold credited OC) Accounts Receivable is debited and sales is credited in addition to that, its cost of goods sold is debited and finished goods is credited OD) Finished goods debited and and cost of goods credited Question 1 (Mandatory) (2 points) When a company sells its finished goods on credit, what would be the appropriate journal entry to record this transaction in General Journal? A) WIP debited and cash credited B) Finished goods debited and accounts receivable credited in addition to sales debited and cost of goods sold credited OC) Accounts Receivable is debited and sales is credited in addition to that, its cost of goods sold is debited and finished goods is credited OD) Finished goods debited and and cost of goods credited Question 1 (Mandatory) (2 points) When a company sells its finished goods on credit, what would be the appropriate journal entry to record this transaction in General Journal? A) WIP debited and cash credited B) Finished goods debited and accounts receivable credited in addition to sales debited and cost of goods sold credited OC) Accounts Receivable is debited and sales is credited in addition to that, its cost of goods sold is debited and finished goods is credited OD) Finished goods debited and and cost of goods credited

Answer rating: 100% (QA)

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