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The Account Distribution for Sales of Inventory on Account Is

Question 3

Multiple Choice

The account distribution for sales of inventory on account is:


A) Debit Merchandise Inventory and Accounts Receivable; credit Cost of Goods Sold and Sales.
B) Debit Accounts Receivable/customer and Cost of Goods Sold; credit Sales and Merchandise Inventory.
C) Debit Accounts Payable/vendor and Cost of Goods Sold; credit Accounts Receivable/customer and Checking.
D) None.

Correct Answer:

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