Solved

A Computer Manufacturer Recently Shipped Several Laptops to a Customer

Question 6

Multiple Choice

A computer manufacturer recently shipped several laptops to a customer (cost: $25,000) and billed the customer $30,000.Which of the following options correctly expresses the accounts that are debited and credited to record this transaction?


A) Debits: Accounts Receivable,Finished-Goods Inventory;credits: Sales Revenue,Cost of Goods Sold.
B) Debits: Accounts Receivable,Cost of Goods Sold;credits: Sales Revenue,Finished-Goods Inventory.
C) Debits: Sales Revenue,Cost of Goods Sold;credits: Accounts Receivable,Finished-Goods Inventory.
D) Debits: Sales Revenue,Finished-Goods Inventory;credits: Accounts Receivable,Cost of Goods SolD.
E) Debits: Accounts Receivable;credits: Finished-Goods Inventory,Profit on SalE.

Correct Answer:

verifed

Verified

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

Related Questions