Under a Perpetual Inventory System, the Journal Entry Needed to Record

question 313

Multiple Choice

Under a perpetual inventory system, the journal entry needed to record the sale of a job includes a

• A)debit to Finished Foods Inventory account and credit to Cost of Goods Sold.
• B)debit to Cost of Goods Sold account and credit to Finished Goods Inventory account.
• C)debit to Sales Revenue account and credit to Accounts Receivable account.
• D)debit to Cost of Goods Sold and credit to Sales Revenue account.

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Definitions:

George Washington

The first President of the United States (1789–1797), commander of the Continental Army during the American Revolutionary War, and a Founding Father of the United States.

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The contemporary iteration of the Republican Party in the United States, characterized by its political positions, ideologies, and policies since the mid-20th century.