Centi Corporation Sold Goods to John for $1,000 on Credit

question 61

Multiple Choice

Centi Corporation sold goods to John for $1,000 on credit. Cost of goods sold was $745. Assuming that the firm is following a perpetual inventory system and using a sales journal, it will record $745 in the:

• A)Accounts Receivable DR, Sales Revenue CR column.
• B)Cost of Goods Sold CR, Merchandise Inventory DR column.
• C)Cost of Goods Sold DR, Merchandise Inventory CR column.
• D)Sales Revenue DR, Accounts Receivable CR column.

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The action or process of observing something or someone carefully or in order to gain information.

Scores

Numerical values assigned to individuals or items based on performance, assessment, or evaluation criteria.

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The consideration or contemplation of ending one's own life, often considered a psychological symptom or condition.

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A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions.