Que Corporation Uses a Process Cost Accounting System B) C) $\begin{array}{llr} \text {Cost of Goods Sold } &1,075\\ \text { Sales } &&1,075\\\end{array}$

question 178

Multiple Choice

Que Corporation uses a process cost accounting system.The company manufactured certain goods at a cost of $800 and sold them on credit to Are Corporation for $1,075.The complete journal entry to be made by Que at the time of this sale is:

• A)
• \(\begin{array}{llr}
• \text {Accounts Receivable - Are Corporation } &1,075\\
• \text { Cost of Goods Sold } &800\\
• \text { Sales } &&1,075\\
• \text {Finished Gords Inventory } &&800\\
• \end{array}\)
• B)
• \(\begin{array}{llr}
• \text { Accounts Receivable - Are Corporation } &1,075\\
• \text {Finished Goods Inventory } &&800\\
• \text { Sales } &&275
• \end{array}\)
• C)
• \(\begin{array}{llr}
• \text {Cost of Goods Sold } &1,075\\
• \text { Sales } &&1,075\\
• \end{array}\)
• D)
• \(\begin{array}{lr}
• \text { Finished Goods Inventory } & 800 \\
• \text { Sales } & 1,075 \\
• \text { Accounts Receivable—Are Corporation } &&1,075 \\
• \text { Cost of Goods Sold }&&800
• \end{array}\)
• E)
• \(\begin{array}{lr}
• \text { Accounts Receivable—Are Corporation } & 1,075 \\
• \text { Selling expense } & 800 \\
• \text { Sales } &&1,075\\
• \text { Cost of Goods Sold}&&800
• \end{array}\)

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