Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of...
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Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of inventory, costing $ and sold on account for $ Multiple Choice A: Account Title Debit Credit Accounts receivable Sales revenue Cost of goods sold Inventory B: Account Title Debit Credit Inventory Accounts receivable Sales Sales revenue C: Account Title Debit Credit Accounts receivable Sales revenue Gain on sale D: Account Title Debit Credit Inventory Gain on sale Sales revenue
Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of inventory, costing $ and sold on account for $
Multiple Choice
A: Account Title Debit Credit
Accounts receivable
Sales revenue
Cost of goods sold
Inventory
B: Account Title Debit Credit
Inventory
Accounts receivable
Sales
Sales revenue
C: Account Title Debit Credit
Accounts receivable
Sales revenue
Gain on sale
D: Account Title Debit Credit
Inventory
Gain on sale
Sales revenue
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