Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 39) triangle company sold a product on credit for

39) Triangle Company sold a product on credit for $2,235 to Hexagon Sales. The cost...

90.2K

Verified Solution

Question

Accounting

39) Triangle Company sold a product on credit for $2,235 to Hexagon Sales. The cost of goods sold was $1,324. Assuming Triangle is following a perpetual inventory system and using a sales journal, it will record $2,235 in the ________. A) Accounts Receivable CR, Sales Revenue DR column B) Accounts Receivable DR, Sales Revenue CR column C) Merchandise Inventory DR, Cost of Goods Sold CR column D) Cost of Goods Sold DR, Merchandise Inventory CR column

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Civil Engineering
1.2K views

A groundwater supply has the following analysis: Ca2+ = 94 mg/l HCO3- = 317 mg/l Mg2+...

Advance Math
1.2K views

Investigate the following theorems (h) For sets A, B and C we have i. A(B ? C)...

Biology
1.2K views

Containers of ice cream are sold by volume, not by weight. Some ice cream manufacturers...

Basic Math
1.2K views

14 Building an Emergency Fund You are working two part time jobs Working at the...

Basic Math
1.2K views

Solve the equation over the interval 0 2 0 2pi sin 3x sin x cos...

Accounting
1.2K views

Oriole Corporation's comparative balance sheets are presented below. \table[[\table[[Oriole Corporation],[Comparative Balance Sheets],[December 31]]],[,2025,2024],[Cash,$15,300,$11,300

Accounting
1.2K views

Similar to property acquisitions, there are many tax issues individuals and firms must consider before...

Accounting
1.2K views

Partial balance sheet data for Diesel Additives Company at August 31 are as follows: Prepare...

Accounting
1.2K views

Journal entry worksheet On September 30,2025 , the customer whose account was written off in...

Accounting
1.2K views

Taylor's tractor-trailer rigs sell for $164,000. A customer wishes to buy a rig on a...

Accounting
1.2K views

Omega Corporation is formed in 2006. Its current E&P and distributions for each year through...

Accounting
1.2K views

Are accounting software packages usually beneficial to small business owners? No, because most require a...