On October 4 2016 TJ Corporation had credit sales transactions of $4800 from merchandise having cost $2880. The entries to record the day's credit transactions include a
A) debit of $4800 to Inventory.
B) credit of $4800 to Sales Revenue.
C) debit of $2880 to Inventory.
D) credit of $2880 to Cost of Goods Sold.

Question

Quizplus · Accepted Answer

The correct entry for recording credit sales is to credit Sales Revenue for the amount of the sales, which is $4800 in this case.

On October 4 2016 TJ Corporation Had Credit Sales Transactions