Question

On october 4, 2017, terry corporation had credit sales transactions of $2,500 from merchandising having a cost of $1,900. the entries to record the day's credit transactions include

Answer 1

I believe that this problem has the following choices:

 

> a debit of $2,500 to Merchandise Inventory.

> a credit of $2,500 to Sales.

> a debit of $1,900 to Merchandise Inventory.

> a credit of $1,900 to Cost of Goods Sold.

 

The correct answer from the choices is:

> a credit of $2,500 to Sales