Question: 5 . Sold merchandise for $ 1 5 0 , 0 0 0 ( t h a t had cost $ 9 0 , 0

5. Sold merchandise for $150,000(that had cost $90,000); collected $105,000 cash, and the $45,000 balance is due in one month. Hint: Make entries for both sides of the transaction-one for sales and one for cost of goods sold.
Assets = Liabilities + Stockholders' Equity
Cash
=
+
=
+ $45,000

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