Answered

Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Discover a wealth of knowledge from professionals across various disciplines on our user-friendly Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

the company's revenue for the month totaled $950,000 from credit sales, and its cost of goods sold for the month is $540,000. Prepare summary journal entries dated October 31 to record its October production

Sagot :

Parrain

Answer:

Date                     Account Title                                             Debit            Credit

Oct. 31                 Accounts Receivable                           $950,000  

                            Sales                                                                          $950,000

Date                     Account Title                                             Debit            Credit

Oct. 31                  Cost of goods sold                              $540,000

                             Finished goods inventory                                       $540,000

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.