elostayara13 elostayara13

24-09-2022
Business

Answered

Annie's Fitness sells a set of free weights to a customer for which Annie's had paid $750. Which one of the following statements describes the most appropriate accounting for the transaction?

a) Debit cost of goods sold expense $750; credit cash $750

b) Debit inventory $750; credit cost of goods sold expense $750

c) Debit cost of goods sold expense $750; credit inventory $750

d) Debit inventory $750; credit accounts payable $750

Answer :

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