Question

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $21,700 and Job 11 $33,900. On March 31, Job 10 is sold to the customer for $35,100 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Mar. 31 Account Titles and Explanation Finished Goods Inventory 55600 55600 Work in Process Inventory (To record the completion of the two jobs) Sales Revenue 31 27100 27100 Finished Goods Inventory (To record the sale Job 10) 31 Cash 35100 Sales Revenue 35100 (To record the cost of the job sold)

Answer 1

Answer:

Credit Debit 55,600 Date Account title and explanations Mar-31 Finished goods inventory (21700+33900) Work in process inventory (To record the completion of the two jobs) 55,600 35,100 Mar-31 Cash Sales revenue (To recod the sale of Job 10) 35,100 21,700 Mar-31 Cost of goods sold Finished goods inventory (To record the cost of the Job sold) 21,700

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