On 14 April 2012,Dragoon Ltd Sells on Credit $8000 of Merchandise

question 12

Multiple Choice

On 14 April 2012,Dragoon Ltd sells on credit $8000 of merchandise that had cost $5000.Which of the following journal entries would Dragoon Ltd make on 14 April 2012?

• A) DR Cost of goods sold\(\quad\)\(\quad\)$5000\(\quad\)\(\quad\)CR Inventory\(\quad\)\(\quad\)\(\quad\) $5000
• B) DR Accounts receivable\(\quad\) $8000\(\quad\)\(\quad\) CR Sales\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)$8000
• C) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\) $8000\(\quad\)\(\quad\) CR Accounts receivable $8000
• D) both A and B.

---

Definitions:

Dominant Elite

The dominant elite describes a small group of individuals or entities that hold significant power, wealth, or influence over a larger population or a specific area of society or economy.

Poor White Men

Typically refers to economically disadvantaged white males, often discussed in socio-historical contexts regarding race, class, and political power.

Racial Divisions

The separation of people into different categories based on race, often resulting in inequality, discrimination, and social conflict.

African Methodist

Pertains to the African Methodist Episcopal Church, a historically African American denomination that was founded in 1816 in Philadelphia, Pennsylvania.