On November 1,2012,Everett Janitorial Supply Sold Merchandise for $5,000,FOB Destination,2/10,n/30 $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

question 157

Essay

On November 1,2012,Everett Janitorial Supply sold merchandise for $5,000,FOB destination,2/10,n/30.The merchandise cost $3,200.
-Please provide the journal entry to record Cost of goods sold.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Monthly Income

The total income received every month from all sources including salaries, benefits, and investments.

Purchase Bundle

A combination of goods and services that a consumer buys at a given time.

Budget Constraint

Refers to the limitations on the consumption choices of individuals based on their income and the prices of goods and services.

Choice Set

A set of all possible options available to a consumer from which he or she can make a selection.