Tangent Corporation Sold a Product for $7,150 to Michael Cardon

question 85

Multiple Choice

Tangent Corporation sold a product for $7,150 to Michael Cardon on credit.The cost of goods sold is $5,650.Assuming that the firm is following a perpetual inventory system and using a sales journal,it will record $5,650 in the ________.

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

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Definitions:

Pairwise Comparison

A technique used in decision-making and research for evaluating and comparing all pairs in a set of items to determine preferences, rankings, or the significance of differences.

Total Movement

Refers to the complete or aggregate amount of movement, often used in logistics and material handling to describe the flow of goods within a system.

Cycle Time

The total time from the beginning to the end of a process, including processing and waiting times, indicating the speed of production.