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On June 30,Caroline,Inc

Question 135

Multiple Choice

On June 30,Caroline,Inc.finished Job 750 with total job costs of $4800 and transferred the costs to Finished Goods Inventory.On July 6,Caroline sold goods from Job 750 to a customer for $5100 cash.Which of the following is the correct entry needed to record the revenue earned? Assume the perpetual inventory system is used.


A) debit Finished Goods Inventory $4800 and credit Sales Revenue $4800
B) debit Cash $5100 and credit Sales Revenue $5100
C) debit Sales Revenue $5100 and credit Cash $5100
D) debit Cost of Goods Sold $4800 and credit Sales Revenue $4800

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