The journal entry compusoft should record on july 8 and August 1 is given below :
<h3>
Journal entry :</h3>
A journal entry is the act of keeping or making records of any deals either economic or non-economic. Deals are listed in an account journal that shows a company's disbenefit and credit balances. The journal entry can correspond of several recordings, each of which is either a disbenefit or a credit.
Date Account Title Debit Credit
July, 8 Cash $350,000
Unearned Sales Revenue $350,000
Date Account Title Debit Credit
August, 1 Cash $550,000
Unearned Sales Revenue $350,000
Sales revenue $900,0000
August, 1 Cost of Goods sold $690,000
Merchandise inventory $690,000
<h3>Sales Revenue :</h3>
Sales revenue is the income entered by a company from its deals of goods or the provision of services. In account, the terms “ sales ” and “ revenue ” can be, and frequently are, used interchangeably to mean the same thing. It's important to note that revenue doesn't inescapably mean cash entered.
Learn more about journal entry :
brainly.com/question/14279491
#SPJ4
