OperatingCycle

OperatingCycle - Sales 20 20 Sell products on credit Cost...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Operating Cycle Journal Entries A = L + E Purchase products on credit Inventory Accounts payable 10 10 Pay suppliers Accounts payable Cash 10 10 Accounts Receivable
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Sales 20 20 Sell products on credit Cost of goods sold Inventory 10 10 Receive payment from customers Cash Accounts Receivable 20 20...
View Full Document

Ask a homework question - tutors are online