Which type or types of inventory timing system (periodic or perpetual) requires the user to record two
Question:
Which type or types of inventory timing system (periodic or perpetual) requires the user to record two journal entries every time a sale is made.
A. Periodic
B. Perpetual
C. Both periodic and perpetual
D. Neither periodic nor perpetual
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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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