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In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $27,700 and Job 11 $40,500. On March 31, Job 10 is sold to th

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Answer #1
Date Account Titles and Explanation Debit Credit
Mar. 31 Finished goods inventory (27700+40500) $68200
Work in process inventory $68200
(To record the completion of the two jobs)
31 Cash 40500
Sales revenue 40500
(To record the sale job 10)
31 cost of goods sold 27700
Finished goods inventory 27700
(To record the cost of the job sold)
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