Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.

Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell sells a computer from Inventory for $1,198 on credit. Mitchell originally bought the computer from BM for $790 What journal entry (entries) will Mitchell prepare to record the sale? Mutiple Choice Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. O Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. 0 Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.

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Description: Proctoring Enabled Exam 2 Version A O3SavedMitchel uses a perpetual Inventory system. Mitchell sells a computer from inventory for $1,198 on credit. Mitchell originally bought the computer fromBM for $790 What journal entry (entries) will Mitchell p

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter9: Accounting For Purchases And Cash Payments

Section9.2: Accounting For Merchandise Purchases

Problem 1OYO

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sesión en Outlook * CengageNOW2 | Online teachin x M McGraw Hill - Login eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How Purchase-Related Transactions Oppenheimer Company purchased merchandise on account from a supplier for $13,400, terms 1/10, n/30. Oppenheimer Company returned $1,700 c the merchandise and received full credit. a. What is the amount of cash required for the payment within the discount period? b. Under a perpetual inventory system, what account is credited by Oppenheimer Company to record the return?
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