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QUESTION 12 Under the Perpetual inventory system, the entry to record transportation cost...

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Accounting

QUESTION 12
Under the Perpetual inventory system, the entry to record transportation cost for merchandise being purchased (Freight In) would be:
a. Dr. A/P; Cr. Inventory
b. Dr. Inventory; Cr. A/P
c. Dr. A/P; Cr. Transportation Expelse
d. Dr. Transportation Expense; Cr. A/P
e. None of the above
q,
QUESTION 13
The company sold on credit. Which Journal would the transaction be recorded in?
a. General Journal
4 points
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b. Sales Journal
c. Cash Receipt Journal
d. Purchases Journal
e. Cash Payment Journal
q,
QUESTION 14
Under the Perpetual inventory system, the entry to record the SALE of merchandise inventory would be:
a. Dr. A/R; Cr. Sales Revenue AND Dr. COGS; Cr. Inventory
4 points
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b. Dr. Sales Revenue; Cr. A/R AND Dr. Inventory; Cr. coGS
c. Dr. AR; Cr. Sales Revenue (No need to record COGS).
d. Dr. Cash; Cr. Inventory
e. None of the above
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