On March 2, Cheyenne Corp. sold $940,000 of merchandise on account to Bramble Company, terms 3/10,...

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On March 2, Cheyenne Corp. sold $940,000 of merchandise on account to Bramble Company, terms 3/10, n/30. The cost of the merchandise sold was $531,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable $940000 Sales Revenue $940000 (To record credit sale) Cost of Goods Sold 531000 Inventory 531000 (To record cost of merchandise sold) On March 12, Cheyenne Corp. received the balance due from Bramble Company. Account Titles and Explanation Debit Credit Cash Sales Discounts Accounts Receivable On March 2, Cheyenne Corp. sold $940,000 of merchandise on account to Bramble Company, terms 3/10, n/30. The cost of the merchandise sold was $531,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable $940000 Sales Revenue $940000 (To record credit sale) Cost of Goods Sold 531000 Inventory 531000 (To record cost of merchandise sold) On March 12, Cheyenne Corp. received the balance due from Bramble Company. Account Titles and Explanation Debit Credit Cash Sales Discounts Accounts Receivable

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Journal entries Sno Accounts title and explanations Debit Credt a Accounts receivables 940000 ... View the full answer