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Hart nance and jason symington operate gift boutiques

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Hart Nance and Jason Symington operate gift boutiques inshopping malls. The partners split profits and lossesequally, and each takes an annual drawing of $80,000.  Inpreparing for his daughter's wedding, Symington took inventory thatcost $10,000. He recorded the transation as follows: Cost of Goods Sold debited $10,000 Inventory credited $10,000 How should Symington have recorded this transaction? Anddiscuss ethical aspects of Symington's action

Reference no: EM13615017

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