On November 2, 2016, Yakima Company has cash sales of $7,000 from merchandise having a...
90.2K
Verified Solution
Link Copied!
Question
Accounting
On November 2, 2016, Yakima Company has cash sales of $7,000 from merchandise having a cost of $3,900. The entries to record the days cash sales will include:
Select one:
a. a $7,000 debit to Accounts Receivable.
b. a $7,000 credit to Cash.
c. a $3,900 credit to Inventory.
d. a $3,900 credit to Cost of Goods Sold.
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: Zin AI - Your personal assistant for all your inquiries!
