Wildlife Wholesale Supply sold birdseed to a retailer for $1,560, receiving cash

Question

Wildlife Wholesale Supply sold birdseed to a retailer for $1,560, receiving cash at the time of sale. The c recording the collection from the customer, in its cash receipts journal, Wildife would enter receiving cash at the time of sale. The cost of the birdseed was $1,070. Whern Multiple Choice $1,560 in the Cash Dr column and $1,560 in the Accounts Receivable Cr column. $1,070 in the Cash Dr. column and $1.070 in the Accounts Receivable Cr. column $1,560 in the Cash Dr column. $1,560 in the Sales Cr column, and $1.070 in the Other Accounts Cr column 51560 in the Accounts Receivable Dr column. $1560 in the Cash Cr column and $1070 in the Cost of Goods Sold Dediventory C column.

Explanation / Answer

Dear student...Thank you for using chegg...correct answer is a since the entry would be

$1,560 in the Cash Dr. column; $1,560 in the Sales Cr. column; and $1,070 in the Cost of Goods Sold Dr./Inventory Cr. column

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