Question

Landon jewelers uses the perpetual inventory system. on april 2, landon sold merchandise with a cost of $3,500 for $8,000 to a customer on account with terms of 1/15, n/30. the journal entry to record the cost of goods sold would be:

Answer 1

the journal entry to record the cost of goods sold would be n = 3500, t = 1/15, n/30