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

question 3

Multiple Choice

Tangent Corporation sold a product for $7,150 to Michael Cardon on credit.The cost of goods sold is $5,650.Assuming 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:

Psychological

Pertains to the mental processes and behavior of an individual, encompassing emotional, cognitive, and social aspects.

Final Disposition

The ultimate method chosen for disposing of a deceased person's remains, including burial, cremation, or other practices.

Survivors

Individuals who continue to live after experiencing a significant event that could have led to death, or those who have outlived a specific person.

Puritan View

A perspective influenced by the Puritans, emphasizing moral and religious rigor, simplicity, and a focus on personal piety.