SECTION 1 (4 points) On the back of the separately distributed ANSWER SHEET FOR

Question

SECTION 1 (4 points) On the back of the separately distributed ANSWER SHEET FOR SECTION shown on the board. Be detailed and use complete sentences. answer the question(s) SECTION 2 (3 points) Anatha Time Corporation uses a job order costing system. The company maintains a perpetual inventory system. On November 17th Job #9186 was sold to a customer for $21,541. The customer paid cash of $8,500 with the remainder on account. The Job #9186 had a cost of $14,167 Required: In the space provided below on this page, prepare in good form the journal entries to record the transaction described above. Be sure to include the dates. PAGE 1

Explanation / Answer

Cash 8500 Accounts Receivable 13041          Sales 21541 Cost of goods sold 14167         Finished goods inventory 14167

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