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Forever Jewelers Uses the Gross Method and a Perpetual Inventory

Question 287

Multiple Choice

Forever Jewelers uses the gross method and a perpetual inventory system.On April 2,Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue?


A)
Forever Jewelers uses the gross method and a perpetual inventory system.On April 2,Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A)    B)    C)    D)
B)
Forever Jewelers uses the gross method and a perpetual inventory system.On April 2,Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A)    B)    C)    D)
C)
Forever Jewelers uses the gross method and a perpetual inventory system.On April 2,Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A)    B)    C)    D)
D)
Forever Jewelers uses the gross method and a perpetual inventory system.On April 2,Forever sold merchandise with a cost of $1,400 for $5,400 to a customer on account with terms of 1/15,n/30.Which of the following journal entries correctly records the sales revenue? A)    B)    C)    D)

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