The journal entries to record the cost and sale of a finished good on account are
A) debit Cost of Goods Sold, credit Finished Goods; debit Accounts Payable, credit Sales
B) debit Cost of Goods Sold, credit Finished Goods; debit Accounts Receivable, credit Sales
C) debit Sales Expense, credit Finished Goods; debit Cash, credit Accounts Receivable
D) debit Work in Process, credit Finished Goods; debit Accounts Receivable, credit Sales
Correct Answer:
Verified
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