ssSa Said I was wrong please help Sales were $74,000. Cost...
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Accounting
ssSa
Said I was wrong please help
Sales were $74,000. Cost of merchandise sold was 50% of sales. 70% of sales were on open account. [Note: Record the complete sales entry first, and the complete expense entry second.] Account: Cash Dollar amount: 22,200 Account: Accounts Receivable Dollar amount: 51,800 Account: Retained Earnings Dollar amount: -74,000 Account: Retained Earnings Dollar amount: 37,000 Account: Inventory Dollar amount: -37,000 Account: Leave Blank Dollar amount: Foil1=Leave%20Blank Account: v Cash Accounts Receivable Account: Inventory Prepaid Rent Fixtures and Equipment Account: : Accounts Payable Interest Payable Account: Wages Payable Notes Payable Account: Paid-in Capital Retained Earnings Leave Blank Account: Account: Retained Earnings Account: Leave Blank
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