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

question 14

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 cost of goods sold?

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

Recognize the importance of internal and external validity in research studies.

Grasp the concept of statistical significance and its role in interpreting research findings.

Understand the importance of random sampling in research to ensure generalizability of results.

Appreciate the need for replication and debriefing in the research process for validation and ethical integrity.

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Definitions:

Lost Profits

Lost profits are potential earnings that a business did not realize due to certain events, disruptions, or decisions that impacted its operations negatively.

Wage Income

The earnings received by individuals for their labor or services, typically calculated on an hourly, daily, or monthly basis.

Back-To-Work Order

A directive requiring employees who may have been on strike or not working due to other reasons to return to their duties.

Union Preference

The inclination or preference of workers or employers for unionized employment settings, often for reasons related to collective bargaining and workers' rights.