In a Periodic Inventory System, the Entry to Record the Sale

question 158

Multiple Choice

In a periodic inventory system, the entry to record the sale of $2,000 of merchandise on account with a cost of $1,400 would include a:

• A)credit to Accounts Receivable for $1,400.
• B)debit to Accounts Receivable for $2,000.
• C)debit to Cost of Goods Sold for $2,000.
• D)credit to Inventory for $1,400.

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Definitions:

Vitamin D

A fat-soluble vitamin essential for healthy bones and immune function, obtained from sunlight exposure, food, and supplements.

Lactose Intolerance

The inability to fully digest lactose, a sugar found in milk and dairy products, leading to digestive problems.

Adults Worldwide

The global population of individuals who have reached the age defined as adulthood by various social, legal, or cultural standards.

Vitamin D

A fat-soluble vitamin essential for healthy bones and immune function, obtained through sun exposure, diet, and supplements.