At the end of Fiscal 2019, the accountants find an invoice for the purchase of a product that was shipped to a customer that was not fully recorded. The sale amount was $60,000 and the cost of the inventory was $30,000. The sale was recorded correctly.

What is the adjusting entry for the cost of the transaction?

Answer rating: 100% (QA)

The adjusting entry for the cost of the transaction would involve r... View the full answer