Multiple Choice
On Saturday,June 30,BD Pool Supplies sold merchandise to
A) Overstated by $6,400.
B) Overstated by $5,300.
C) Overstated by $1,100.
D) Not affected,but the net income for July is understated.
E) Luang on account.The sales price was $6,400,and the cost of goods sold was $5,300.The sales revenue was recorded immediately,but the entry recording the cost of goods sold was dated Monday,July 2.As a result,net income for June was:
Correct Answer:
Verified
Correct Answer:
Verified
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