What is the journal entry for the collection of sales?

a. debit sales and credit expense

b. credit sales and debit expense

c. debit sales and credit cash

d. debit cash and credit sales

The answer is letter D, Debit Cash and Credit Sales.

Explanation:

Sales Journal Entry- this is considered as an entry in the sales journal in order to record a credit sale of inventory. This consists of selling an inventory on credit, thus it affects four accounts namely, the accounts receivable, revenue account, inventory and cost of goods.

A typical sales journal entry will debit the account receivable for the sales price (cash) and credit the revenue account for the sales price. The cost of good will reflect the debited amount that the company paid for the inventory (cash). In the same way, the Inventory will be credited for the same price.

In a sales journal entry, the debit side (left side) will show cash while the credit side (right side) will show the sales.

1. read the following excerpt from franklin d. roosevelt's "fireside chat 19":

on the other side of the picture, we must learn also to know that guerilla warfare against the germans in, let us say serbia or norway, us; that a successful russian offensive against the germans us; and that british successes on land or sea in any part of the world strengthen our hands.

remember always that germany and italy, regardless of any formal declaration of war, consider themselves at war with the united states at this moment just as much as they consider themselves at war with britain or russia. and germany puts all the other republics of the americas into the same category of enemies. the people of our sister republics of this hemisphere can be honored by that fact.  

the true goal we seek is far above and beyond the ugly field of battle. when we resort to force, as now we must, we are determined that this force shall be directed toward ultimate good as well as against immediate evil. we americans are not destroyers — we are builders.

analyze the effectiveness of this excerpt. how does it function within the speech as a whole? how does the structure of the excerpt to convey the speech's purpose and key points? support your argument with evidence from the speech. (10 points)