Author Question: Archer Manufacturing had sales for the week of $3,145, of which $2,500 was on credit and $645 in ... (Read 35 times)

captainjonesify · **on:** Feb 18, 2020

Archer Manufacturing had sales for the week of $3,145, of which $2,500 was on credit and $645 in cash sales. The cost of the merchandise sold was $1,716. The journal entries would include a:
◦ debit to Cash for $3,145 and a credit to Cost of Goods Sold for $3,145.
◦ debit to Cost of Goods Sold for $1,716; credit to Sales of $1,716.
◦ debit to Cost of Goods Sold for $1,716; credit to Inventory for $1,716.
◦ debit to Cash for $3,145, credit to Sales for $3,145.

momtoalll · **Reply #1 on:** Feb 18, 2020

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