The Entries to Record a $5,000 Cash Sale Under a Periodic

question 91

Multiple Choice

The entries to record a $5,000 cash sale under a periodic inventory system, when the cost of the merchandise is $3,200, include a:

• A)debit to Inventory for $5,000.
• B)credit to Sales Revenue for $5,000.
• C)debit to Cost of Goods Sold for $3,200.
• D)debit to Accounts Receivable for $5,000.

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Definitions:

Registered To Vote

The status of having one's name officially listed to participate in elections and vote.

Sit-In

A form of protest in which individuals occupy an area, refusing to leave until their demands are met, historically used in civil rights movements to protest segregation.

University Of Minnesota

A public research university located in the Twin Cities of Minneapolis and St. Paul, Minnesota, known for its contributions to education, research, and outreach.

Lack Of Diversity

A situation where there is little to no variation in the demographic, cultural, or ideological makeup of a group or institution.