Solved

On October 1,Robertson Company Sold Inventory in the Amount of $5,800

Question 203

Multiple Choice

On October 1,Robertson Company sold inventory in the amount of $5,800 to Alberta,Inc.with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Robertson uses a periodic inventory system.The journal entry (or entries) prepared by Robertson on October 1 is(are) :


A) Debit Sales Revenue and credit Accounts Receivable for $5,800.
B) Debit Sales Revenue and credit Accounts Receivable for $5,800;debit Cost of Goods Sold and credit Inventory for $4,000.
C) Debit Accounts Receivable and credit Sales Revenue for $5,800.
D) Debit Accounts Receivable and credit Sales Revenue for $5,800;Debit Cost of Goods Sold and credit Inventory for $4,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions