. On March 3rd, Blowout Sales makes $3,450.00 in cash sales of general merchandise which have a cost of $1,215.00. Blowout uses a perpetual inventory system.
(a) Journalize the sale event.
(b) Journal the cost of merchandise sold
Darshita Changed status to publish February 17, 2020
Answer:
| Date: | Account Title | Debit: | Credit: |
| Mar-03 | Cash | 3450 | |
| Sales | 3450 | ||
| Mar-03 | Cost of Merchandise Sold | 1215 | |
| Merchandise Inventory | 1215 |
Darshita Changed status to publish February 17, 2020
