rch hapter 7-ACG1001 6 Help Save & ExitSubmit 10 At the end of May, the sales jo

Question

rch hapter 7-ACG1001 6 Help Save & ExitSubmit 10 At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $13,760 24 Number 190 1 Sara Reed 17 Anna Page 25 Sara Reed 31 Totals 3,160 1,406 562 2,607 330 6,880 192 193 175 375 1. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's 2 Post the sales journal and any portion of the general journal entry that afflects these accounts 3. Prepare a schedule of accounts receivable in the tabs

Explanation / Answer

The whole question attempted by you is absolutely correct. All figures have been verified.

The error is because of the Narration in Inventory A/c

Opening inventory: $13760

Cost of goods sold : $6880

Closing inventory: $6880

You have not narrated the reason for decrease in inventory level.

Pls give your feedback!! Happy Learning :)

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