Which of the Following Journal Entries Is Correct If Scrap $\quad$

question 40

Multiple Choice

Which of the following journal entries is correct if scrap is being incurred and sold for all jobs in common in the amount of $600?

• A) Cash\(\quad\)\(\$ 600\)
• Work-in-Process Inventory\(\quad\)\(\$ 600\)
• B) Cash\(\quad\)\(\$ 600\)
• Finished Goods Inventory\(\quad\)\(\$ 600\)
• C) Cash\(\quad\)\(\$ 600\)
• Factory Overhead\(\quad\)\(\$ 600\)
• D) \(\begin{array} { l c l }
• \text { Cash } & \$ 600 & \\
• \text { Work-in-Process Inventory } & \$ 200 \\
• \text { Finished Goods Inventory } & \$ 200 \\
• \text { Factory Overhead } & \$ 200
• \end{array}\)

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Definitions:

Follow Up

Follow-up refers to the actions taken to maintain contact and ensure satisfactory progress or resolution after an initial meeting, sale, or conversation.

Product Effectiveness

The degree to which a product successfully meets the intended purpose or satisfies customer needs and expectations.

Business Friendship

The relationship formed between a salesperson and client that revolves around business-related issues.

Personal Friendship

A relationship between individuals based on mutual affection, trust, and support, not determined by professional or business interactions.