The Journal Entry to Sell Merchandise Under a Periodic Inventory

question 42

Multiple Choice

The journal entry to sell merchandise under a periodic inventory system includes a:

• A)debit to cost of goods sold.
• B)debit to inventory.
• C)credit to purchases.
• D)credit to sales revenue.

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Definitions:

Medial Malleolus

The bony protrusion on the inner side of the ankle, part of the distal end of the tibia bone.

Ankle Joint

A hinge joint that connects the foot and the leg, allowing up and down movement.

Lateral Side

The part or surface of a body that is positioned toward the side, away from the midline.

Ankle Joint

A complex joint that connects the foot to the leg, comprising three bones (tibia, fibula, and talus) and allowing up-and-down and side-to-side movements of the foot.