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Write the journal entry to record the transaction

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Reference no: EM132509836

Question 1: Koduri & Leitchman manufactures and ship computer parts across the globe. They use a markup of 22% for all overseas sales. A shipment consisting of 500 units, showing total manufacturing costs of $45,250 were shipped to Japan as Job Order Shipment M-X17 on February 15, 2020. Ignoring sales tax, write the journal entry to record this transaction.

Assuming it should look like:

Sales Revenue 55205

COGS 45,250

Markup 9955

Finished Good 45,250

Reference no: EM132509836

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