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Last year, Harley-Davidson sold $14,200 in bikes for a total of $48,900 in account.  This transaction most likely would result in a debit to ______________ for ______________ and a credit to _____________ for ____________    COGS, $48,900, sales $48,900  cash, $48,900, sales, $48,900  cash, $14,200, inventory, $14,200  COGS, $14,200, inventory, $14,200

Last year, Harley-Davidson sold $14,200 in bikes for a total of $48,900 in account.  This transaction most likely would result in a debit to ______________ for ______________ and a credit to _____________ for ____________    COGS, $48,900, sales $48,900  cash, $48,900, sales, $48,900  cash, $14,200, inventory, $14,200  COGS, $14,200, inventory, $14,200

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Last year, Harley-Davidson sold $14,200 in bikes for a total of $48,900 in account.  This transaction most likely would result in a debit to ______________ for ______________ and a credit to _____________ for ____________

  
  1. COGS, $48,900, sales $48,900 
  2. cash, $48,900, sales, $48,900 
  3. cash, $14,200, inventory, $14,200 
  4. COGS, $14,200, inventory, $14,200
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