Question $1$

$5$ pts

Joan owns and operates a consignment shoppe. Frank is a woodworker who makes different types of furniture.

On April $1,2025,$ Frank gave Joan $20$ chairs on consignment to sell for him in her shoppe. They agree that each chair will be sold for $$100.$ Frank's cost to make each chair is $$60.$

When Joan receives the chairs from Frank, she records them as inventory in her general ledger for $$1,200.$

$$ True

$$ False