Michelin Jewelers Completed the Following Transactions $$\begin{array} { | l | r | r | } \hline \text { Sales revenue } & 9,000 & \\\hline \text { Accounts receivable } & & 9,000 \\\hline\end{array}$$

question 141

Multiple Choice

Michelin Jewelers completed the following transactions.Michelin Jewelers uses the perpetual inventory system.On April 2,Michelin sold $9,000 of merchandise to a customer on account with terms of 3/15,n/30.Michelin's cost of the merchandise sold was $5,500.
-Which of the following journal entries correctly records the Sales revenue?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Sales revenue } & 9,000 & \\
• \hline \text { Accounts receivable } & & 9,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Sales revenue } & 9,000 & \\
• \hline \text { Cost of goods sold } & & 9,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 9,000 & \\
• \hline \text { Sales revenue } & & 9,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Accounts receivable } & 9,000 & \\
• \hline \text { Sales revenue } & & 9,000 \\
• \hline
• \end{array}\]

Appreciate the role of risk management in early-stage financing.

Learn the significance of choosing appropriate financing strategies, including bootstrapping and seeking external investors.

Value learning from both successful and unsuccessful crowdfunding experiences.

Grasp the essence of investment attraction factors beyond the product itself.

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Definitions:

Geography

The study of places, the relationships between people and their environments, and the physical and human characteristics of the Earth's surface.

Customer

An individual or business that purchases goods or services from a company.

Licensed Mechanics

Professionals who have received formal authorization or certification to conduct mechanical repairs or services, demonstrating they meet certain standards or qualifications.

Negligently Performed

The execution of an action with a lack of care that is considered below the standard expected of a reasonably prudent person under similar circumstances.