On 14 April 2016,Dragoon Ltd Sells on Credit $8000 of Merchandise

question 46

Multiple Choice

On 14 April 2016,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 2016?

• A) Dr Cost of Goods Sold $5000\(\quad \)\(\quad \)\(\quad \)\(\quad \) Cr Inventory $5000
• B) Dr Accounts Receivable $8000\(\quad \)\(\quad \)\(\quad \) Cr Sales $8000
• C) Dr Cash $8000\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \) Cr Accounts Receivable $8000
• D) Dr Cost of goods sold $5000 \(\quad \)\(\quad \)\(\quad \)\(\quad \)Cr Inventory $5000 and
• Dr Accounts receivable $8000\(\quad \)\(\quad \)\(\quad \)\(\quad \) Cr Sales $8000

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Definitions:

Cue-dependent Forgetting

The inability to recall information in the absence of specific cues or triggers that were present at the time the memory was formed.

Brain Stem

The part of the brain that connects the cerebrum with the spinal cord and controls vital functions such as breathing, heart rate, and blood pressure.

Memories Stored

The process by which information is encoded, stored, and retrieved in the brain for future use.

Proactive Interference

A phenomenon where older memories interfere with the recall of newer memories, often observed in learning and memory studies.