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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
i. On February 27th, the company sold goods on account to CUSTOMER, $1,800. The goods had a cost of $900. Dungy uses a perpetual inventory system. ans--> A/R (debit) $1800 Sales (credit) $1800 Cost of Goods Sold (debit) $900 Merchandise Inventory (credit) $900 ii. On February 27th, the company realized that it recorded collection from customers on February 21 incorrectly. $2,700 was collected from Campos and $950 from Dennison. Adjust the entry accordingly. Im not sure how i should write the (ii). please help, have test tomorrow.thnx ^_^
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