This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Accounts Debit Credit October Finished goods inventory 2,900 Work in process inventory 2,900 November Finished goods inventory 4,850 Work in process inventory 4,850 Req. 4 Journal Entry Date Accounts Debit Credit Accounts receivable 3,000 Sales revenue 3,000 Costs of goods sold 2,200 Finished goods inventory 2,200 Req. 5 Sale Revenue $3,000 Less: Cost of goods sold (2,200) Gross Profit $800 Administration Customer service Design Distribution Marketing Other Costs ( Interest expense and Income taxes) Research and Development...
View Full Document
- Spring '11
- Generally Accepted Accounting Principles, Double-entry bookkeeping system, goods inventory, Huntley