his Question: 2 pts 9 of 10 (0 complete)This Quiz: 20 pts possib Department 1 co

Question

his Question: 2 pts 9 of 10 (0 complete)This Quiz: 20 pts possib Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units was $750 What is the journal entry to record the transfer? Accounts and Explanation Debit Credit O A. Cost of Goods Sold 750 Work-in-Process Inventory-Dept. 1 750 ??. ||Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventory-Dept. 1 750 O C. Work-in-Process Inventory-Dept 2 750 Cost of Goods Sold 750 O D. Work-in-Process Inventory-Dept. 1 750 Work-in-Process Inventory-Dept2 750

Explanation / Answer

Correct answer is B

The work done by Deprartment 1 was debited to Work in process Dept 1 and on transferring the same to Department 2, that account was credited and the corresponding account in Department 2 is debited.

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