Acompany that uses the perpetual inventory system purchased 500 pallets of industrial soap for $7,000 and paid $800 for the freight-in. the company sold the whole lot to a supermarket chain for $12,000 on account. which of the following entries correctly records the sale?
a. sales revenue 12,000 merchandise inventory 12,000
b. accounts receivable 12,000 sales revenue 12,000 cost of goods sold 7,800 merchandise inventory 7,800
c. cost of goods sold 12,000 sales revenue 12,000
d. merchandise inventory 12,000 cost of goods sold 12,000 next

Cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely: cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely:

What are two benefits of consumer programs

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.