Homework Answers
Answer: a. credit to sales for $67,500.
Explanation:
Journal entries are as follow:-
| General Journal | Debit | Credit |
| Account receivable | 67,500 | |
| Sales | 67,500 | |
| (To record sales) | ||
| Cost of goods sold | 32,600 | |
| Merchendise inventory | 32,600 | |
| (To record cogs) | ||
| Delivery expense | 880 | |
| Cash | 800 | |
| (To record delivery expense) |
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Outcome Assesment Problem
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payment of amount due. Refer to the appropriate company’s Chart of
Accounts for exact wording of account titles. However, it is
telling me that delivery expense is wrong for the freight paid
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