Solution-What the cost of goods sold is recorded in the

What the cost of goods sold is recorded in the column

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Reference no: EM132779684

Problem 1: Northern Corporation sold goods to Eastern Enterprises for? $1,000 on account. Cost of goods sold was? $745. Northern uses a perpetual inventory system and special journals. The cost of goods sold is recorded in the? ________ column of the sales journal.

A. Sales Revenue? DR, Accounts Receivable CR
B. Cost of Goods Sold? CR, Merchandise Inventory DR
C. Accounts Receivable? DR, Sales Revenue CR
D. Cost of Goods Sold? DR, Merchandise Inventory CR

Reference no: EM132779684

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What the cost of goods sold is recorded in the column

Reference no: EM132779684

Reference no: EM132779684

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