Solved

Classic Accessories, Inc  Account Receivable, Hi-View  DR  Sales  CR \begin{array} { l l } \text { Account Receivable, Hi-View } & \text { DR } \\\text { Sales } & \text { CR }\end{array}

Question 26

Multiple Choice

Classic Accessories, Inc. sold merchandise on account to Hi-View Industries for $2,950. What is the journal entry Classic Accessories will use to record this transaction?


A)
 Account Receivable, Hi-View  DR  Sales  CR \begin{array} { l l } \text { Account Receivable, Hi-View } & \text { DR } \\\text { Sales } & \text { CR }\end{array}
B)
 Cash  DR  Sales  CR \begin{array} { l l } \text { Cash } & \text { DR } \\\text { Sales } & \text { CR }\end{array}
C)
Sales \quad DR
Accounts Receivable, Hi-View \quad CR
D)
 Sales  DR  Cash  CR \begin{array} { l l } \text { Sales } & \text { DR } \\\text { Cash } & \text { CR }\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents