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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Suppose Dave’s Discount’s Inventory account showed a balance of $8,000 before the year- end adjustments. The physical count of goods on hand totaled $7,400. To adjust the accounts, Dave Marshall would make the following entry:
|
a. |
Cost of goods sold........................... |
600 |
 |
| Â |
Inventory................................... |
 |
600 |
| Â | Â | Â | Â |
|
b. |
Inventory......................................... |
600 |
 |
| Â |
Accounts receivable ................... |
 |
600 |
| Â | Â | Â | Â |
|
c. |
Accounts payable ............................ |
600 |
 |
| Â |
Inventory................................... |
 |
600 |
| Â | Â | Â | Â |
|
d. |
Inventory......................................... |
600 |
 |
| Â |
Cost of goods sold ..................... |
 |
600 |
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