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23-12-2022
Business

Answered

Northern Corporation sold goods to Eastern Enterprises for $1,000 on account. Cost of goods sold was $745. Northern uses a perpetual inventory system and special journals. The cost of goods sold is recorded in the ________ column of the sales journal.
A. Sales Revenue DR, Accounts Receivable CR B. Cost of Goods Sold CR, Merchandise Inventory DR C. Accounts Receivable DR, Sales Revenue CR D. Cost of Goods Sold DR, Merchandise Inventory CR

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