On February 1, 2015, Fugit Company Sells Merchandise on Account $\begin{array}{lrr} \text { Sales Revenue } &6,500\\ \text { Accounts Payable } &&6,500\\\end{array}$

question 96

Short Answer

On February 1, 2015, Fugit Company sells merchandise on account to Armen Company for $6,500. The entry to record this transaction by Fugit Company is a.
$\begin{array}{lrr} \text { Sales Revenue } &6,500\\ \text { Accounts Payable } &&6,500\\\end{array}$

b.
$\begin{array}{lrr} \text { Cash} &6,500\\ \text { Sales Revenue } &&6,500\\\end{array}$

c.
$\begin{array}{lrr} \text { Accounts Receivable.} &6,500\\ \text { Sales Revenue } &&6,500\\\end{array}$

d.
$\begin{array}{lrr} \text { Accounts Payable } &6,500\\ \text { Accounts Receivable.} &&6,500\\\end{array}$

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