FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On October 4, 2006, an Corporation had credit sales transactions of $4,800 from merchandise having cost $2,880. The entries to record the day’s credit transactions include a
a. debit of $4,800 to Inventory.
b. credit of $4,800 to Sales Revenue.
c. credit of $2,880 to Cost of Goods Sold.
d. debit of $2,880 to Inventory.
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