Table 7-6
Provincewide Milling Company Uses a Sales Journal Other Sales That Took Place in June Are as Follows

question 76

Multiple Choice

Table 7-6
Provincewide Milling Company uses a sales journal. On June 2, the sales journal appears as you see below.
Sales Journal $\begin{array}{|l|l|l|l|l|r|}\hline& & & &\text { Accts Rec } & \\\text { Date } & \text { Invoice \# } & \text { Customer } & \text { Post } & \text { DR } & \text { COGS DR/ } \\&&&\text { Ref. } & \text { Sales Rev CR } & \text { Inventory CR }\\\hline \text { June 2 } & 909 & \text { Richardson Products } & & \$ 4,200 & \$ 1,090 \\\hline & & & & & \\\hline & & & & & \\\hline & & & & & \\\hline & & \text { Total } & & & \\\hline\end{array}$ Other sales that took place in June are as follows: $$\begin{array} { | c | c | c | c | } \hline \text { Inv \# } & \text { Sales Amount } & \text { Customer } & \text { Cost of Goods Sold } \\\hline 910 & \$ 880 & \text { Anton, Michael } & \$ 390 \\\hline 911 & 1,120 & \text { A1 Repairs } & 560 \\\hline 912 & 500 & \text { Thompson, Al } & 220 \\\hline\end{array}$$
-Refer to Table 7-6, at the end of the month, what entry was made to inventory?

• A)credit $2,260
• B)debit $2,260
• C)debit $6,700
• D)credit $6,700

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Definitions:

Single-Index Model

A model that represents the returns of a portfolio or asset as linearly dependent on the returns of a single market index, simplifying the evaluation of portfolio risk.

Markowitz Model

A portfolio optimization theory that demonstrates how to achieve the best portfolio allocation to maximize return for a given level of risk through diversification.

Systematic Risk

The risk inherent to the entire market or entire market segment, which cannot be eliminated through diversification.