Landon Jewelers Uses the Perpetual Inventory System

question 75

Multiple Choice

Landon Jewelers uses the perpetual inventory system.On April 2,Landon sold merchandise with a cost of $3,500 for $8,000 to a customer on account with terms of 1/15,n/30.The journal entry to record the cost of goods sold would be:

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Definitions:

Germ Layer

One of the three primary layers of cells (ectoderm, mesoderm, endoderm) in the early embryo from which all the organs and tissues of the body eventually develop.

Excretory System

A system of organs responsible for the removal of waste products and excess substances from an organism's body.

Ectoderm

The outermost layer of cells or tissue of an embryo in early development, giving rise to the epidermis and nervous system among others.

Germ Layer

One of the three primary layers of cells (ectoderm, mesoderm, endoderm) in the early embryo that develop into specific organ systems.