Mary Martin,the Owner of Martin Consulting,started the Business by Investing

question 139

Multiple Choice

Mary Martin,the owner of Martin Consulting,started the business by investing $40,000 cash.Identify the general journal entry below that Martin Consulting will make to record the transaction.

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Definitions:

Average Purchase

Typically refers to the average amount spent by customers on products or services over a specific period, useful for analyzing consumer behavior and planning inventory.

Inbound Transportation

The process and cost of transporting goods from suppliers to the premises of a business.

Sales

The activities involved in selling products or services, often measured by the amount of revenue generated from transactions with customers.

Cost of Goods Sold

An accounting term for the direct costs attributable to the production of the goods sold in a company, including both raw materials and labor expenses.