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denis-greek [22]
3 years ago
7

Omega.com sold 25 jet skis for $7000.which cost$5000 The entry to record the sale would be

Business
1 answer:
Hoochie [10]3 years ago
5 0

If the company sold 25 jet skis at $7,000 each the total value of the sale is $175,000. The correct way to record this transaction would depend on how the sale was paid for.

If the jet skis were paid for with cash the entry is going to be a debit to Cash for $175,000 and a credit to Sales for $175,000. If they were sold on account the entry is going to be a debit to Accounts Receivable for $175,000 and a credit to Sales for $175,000.

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3 years ago
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