BetterBuy Sells a Computer from Inventory for $599 on Credit

question 78

Multiple Choice

BetterBuy sells a computer from inventory for $599 on credit.BetterBuy originally bought the computer from IBM for $395.What are the journal entries Betterbuy would record?

• A)Debit Cash for $599,credit Sales for $599; debit Inventory for $395 and credit Cost of Goods Sold for $395.
• B)Debit Accounts Receivable for $599,credit Inventory for $395,and credit Retained Earnings for $204.
• C)Debit Accounts Receivable for $599,credit Sales for $599; debit Cost of Goods Sold for $395 and credit Inventory for $395.
• D)Debit Inventory for $395,debit Cost of Goods Sold for $204,and credit Accounts Receivable for $599.

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Definitions:

Paraplegia

A condition involving the paralysis of the legs and lower body, typically resulting from spinal injury or disease.

Lower Extremities

Refers to the lower limbs of the human body, including the hips, legs, knees, ankles, and feet.

Internuncial Neurons

Neurons that act as intermediaries between sensory and motor neurons, playing a crucial role in the central nervous system.

Interneurons

Neurons connecting sensory to motor neurons.