Explain the journal entry and the adjusting entry

Reference no: EM131884351

Question: August 15th, your customers bought 9,000 units of your product at $112.00 per unit. The cost of this product is determined by the method of inventory valuation used by your company. Customers paid you 50% in cash and the remainder was on account.

What is the journal entry, adjusting entry (if there is one) and how do you put it in T - Account?

Reference no: EM131884351

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