Assume the Periodic Inventory System Is Used $\begin{array} { l l l } \text { Cost of Goods Sold } & 3,400 & \\\text { Sales } & & 3,400 \\\end{array}$

question 70

Multiple Choice

Assume the periodic inventory system is used.Karton Company sold inventory to Rabell Company for $3,400 with agreement from Rabell that payment will be made at the end of the month.Which of the following is the journal entry to be made by Karton Company?

• A)\(\begin{array} { l l l }
• \text { Cost of Goods Sold } & 3,400 & \\
• \text { Sales } & & 3,400 \\
• \end{array}\)
• B)\(\begin{array}{lccc}
• \text { Cash } & 3,400 & \\
• \quad \text { Inventory } & & 3,400 \\
• \end{array}\)
• C) \(\begin{array}{lccc}
• \text { Accounts Receivable } & 3,400 & \\
• \quad \text { Sales } & & 3,400 \\
• \end{array}\)
• D)\(\begin{array}{lccc}
• \text { Cash } & 3,400 & \\
• \quad \text { Sales } & & 3,400 \\
• \end{array}\)
• E)\(\begin{array}{lccc}
• \text { Cash } & 3,400 & \\
• \text { Accounts Payable } & & 3,400
• \end{array}\)

Understand the concept of cognitive-affective units and their role in personality.

Grasp the impact of cognitive processes on behavior.

Recognize the significance of competencies and self-regulatory plans in personal development.

Comprehend Kelly’s theory of personal constructs and its application to psychological problems.

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Shows evidence of, indicates, or expresses a particular quality, condition, or situation.