12. How would Milidantri Corp. record the October 2ed sale? A. Accounts Receivab
ID: 2573603 • Letter: 1
Question
12. How would Milidantri Corp. record the October 2ed sale? A. Accounts Receivable 105,000 Inventory Gross Profit 60,000 36,000 B. Accounts Receivable 105,000 Sales Revenue 105,000 Inventory 69,000 Cost of Goods Sold 69,000 C. Cash 105,000 Sales Revenue 105,000 Inventory 69,000 Cost of Goods Sold 69,000 D. 105,000 Accounts Receivable Sales Revenue 105,000 Cost of Goods Sold 69,000 Inventory 69,000 E. 69,000 36,000 Gross Proft Sales Revenue 105,000 13. When recording the return on October 5th, Milidantri will: A. B. C. D. E. credit Sales Returns and Allowances for $9,000. debit Cost of Goods Sold for $5,700. debit Accounts Receivable for $9,000. debit Inventory for $5,700. debit Sales Revenue for $9,000.Explanation / Answer
12. How would Milidantri Corp. record the October 2nd Sale?
Correct answer is Option D i.e.
Accounts Receivable Debit $105,000
Sales Revenue Credit $105,000
Cost of Goods Sold Debit $69,000
Inventory Credit $69,000
13. When recording the return on October 5th, Milidantri will:
Correct answer is Option D i.e. debit Inventory for $5,700
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