DQuestion 13 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the perpetual...
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DQuestion 13 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the perpetual inventory system. On April 2, Michelin sold $9,000 of merchandise to a customer on account with terms of 3/15, n/30. Michelin's cost of the merchandise sold was $5,500. Which of the following journal entries correctly records the Sales revenue? O Dr. Sales Revenue 8,730: Cr. Acounts Receivable 8.730 O Dr. Cash 8,730, Cr. Sales Revenue 8,730 O Dr. Accounts Receivable 8730: Cr. Sales Revenue 8730 O Dr. Sales Revenue 8,730; Cr.Cost of Good Sold 8,730 1 ptb Question 14 1 pts Michelin Jewelers completed the following transactions. Michelin Jewelers uses the peratual inventory system. On April 2, Michelin sold $8,000 of merchandise to a customer on account with terms of 3/15, n/30. Michelin's cost of the merchandise sold was $5,500 On April 10, Michelin received payment from the customer (note: within discount period). Which of the following entries correctly records the cash receipt on Michelin's books? O Dr. Accounts Payable 7.760, Gr. Cash 7,760 O Dr. Cash 8,000: Cr. Accounts Payable 8,000 O Dr. Cash 8,000; Accounts Receivable 8,000 O Dr. Cash 7.760; Cr. Accounts Receivable 7,760 1 pts
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