Which of the following accounts are affected by a shipment of goods to a customer?
A) accounts payable
B) accounts receivable
C) cost of goods sold
D) finished goods inventory
E) bank account

Question

Quizplus · Accepted Answer

When goods are shipped to a customer, accounts receivable is affected as it records the amount owed by the customer. Cost of goods sold is affected as it records the cost of the inventory sold. Finished goods inventory is affected as it decreases with the shipment of goods.

Which of the Following Accounts Are Affected by a Shipment