Question: Record the following transaction using the periodic method. For account titles use the account names listed above (be cautious about spelling as this can return
Record the following transaction using the periodic method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. For compound entries list the larger debits and credits first. Shipped merchandise that had cost us $940 to Jones, New Stuff billed the customer $1,175 on the sale and paid $25 in freight to get the merchandise to the customer. DR ACCT account receivable 1175 ADR amount cost of good sold 940 A/ CR ACCT sales revenue 1175 A/CR amount inventory 940 A/ DR ACCT freight expense 25 ADR amount A CR ACCT cash 25 AA CR amount
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