Jun. 1 Sold merchandise inventory on account to Fran Jack, $1,220. Cost of goods, $980. Invoice no.

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Jun. 1 Sold merchandise inventory on account to Fran Jack, $1,220. Cost of goods, $980. Invoice no. 101.

8 Sold merchandise inventory on account to Ireland Frank, $2,025. Cost of goods, $1,640. Invoice no. 102.

13 Sold merchandise inventory on account to Jake Thompson, $420. Cost of goods, $210. Invoice no. 103.

28 Sold merchandise inventory on account to Gabe West, $820. Cost of goods, $620. Invoice no. 104.

Use the following sales journal to record the preceding transactions. All credit sales are terms of n/30.

Sales Journal Page 1 Cost of Goods Sold DR Merchandise Inventory CR Accounts Receivable DR Sales Revenue CR Customer Acc

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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Oct 27, 2017 04:29 AM

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Jun. 1 Sold merchandise inventory on account to Fran Jack, $1,220. Cost of goods, $980. Invoice no.

Question:

Sales Journal Page 1 Cost of Goods Sold DR Merchandise Inventory CR Accounts Receivable DR Sales Revenue CR Customer Account Debited Invoice No. Post. Ref. Date 2018

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Sales Journal Page 1 Date Invoice No Customer Account Debited Po...View the full answer

Horngrens Financial And Managerial Accounting The Financial Chapters

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