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Alexeev081 [22]
3 years ago
15

On March 2, Kingbird, Inc. sold $954,000 of merchandise on account to Ayayai Company, terms 4/10, n/30. The cost of the merchand

ise sold was $590,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
shtirl [24]3 years ago
6 0

Answer:

Following Journal Entries are recorded for Kingbird, Inc

Explanation:

<u>March 02</u>

Debit: Account Receivable = $954,000

Credit: Sale = $954,000

(Credit Sale is Recorded)

Debit: Cost of Good Sold = $590,000

Credit: Inventory = $590,000

(To Record Cost of merchandise Sold)

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