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Owens Jewelers Uses the Perpetual Inventory System

Question 127

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Owens Jewelers uses the perpetual inventory system.On April 2,Owens sold merchandise with a cost of $5,500 for $7,000 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue?


A)
Owens Jewelers uses the perpetual inventory system.On April 2,Owens sold merchandise with a cost of $5,500 for $7,000 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A) B) C) D)
B)
Owens Jewelers uses the perpetual inventory system.On April 2,Owens sold merchandise with a cost of $5,500 for $7,000 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A) B) C) D)
C)
Owens Jewelers uses the perpetual inventory system.On April 2,Owens sold merchandise with a cost of $5,500 for $7,000 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A) B) C) D)
D)
Owens Jewelers uses the perpetual inventory system.On April 2,Owens sold merchandise with a cost of $5,500 for $7,000 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A) B) C) D)

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