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On September 12,Ryan Company Sold Merchandise in the Amount of $5,800

Question 153

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On September 12,Ryan Company sold merchandise in the amount of $5,800 to Johnson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Ryan uses the periodic inventory system and the net method of accounting for sales.The journal entry or entries that Ryan will make on September 12 is (are) :


A)  Sales 5,800 Accourits receivable 5,800\begin{array} { | l | r | r | } \hline \text { Sales } & 5,800 & \\\hline \text { Accourits receivable } & & 5,800 \\\hline\end{array}
B)  Accourts receivable 5,684 Sales 5,684 Cost of goods sold 4,000 Merchandise Irventory 4,000\begin{array} { | l | r | r | } \hline \text { Accourts receivable } & 5,684 & \\\hline \text { Sales } & & 5,684 \\\hline \text { Cost of goods sold } & 4,000 & \\\hline \text { Merchandise Irventory } & & 4,000 \\\hline\end{array}
C)  Accourits receivable 5,800 Sales 5,800\begin{array} { | l | r | r | } \hline \text { Accourits receivable } & 5,800 & \\\hline \text { Sales } & & 5,800 \\\hline\end{array}
D)  Accourts receivable 5,800 Sales 5,800 Cost of goods Sold 4,000 Merchandise irventory 4,000\begin{array} { | l | r | r | } \hline \text { Accourts receivable } & 5,800 & \\\hline \text { Sales } & & 5,800 \\\hline \text { Cost of goods Sold } & 4,000 & \\\hline \text { Merchandise irventory } & & 4,000 \\\hline\end{array}
E)  Accounts receivable 5,684 Sales 5,684\begin{array}{|l|r|r|}\hline \text { Accounts receivable } & 5,684 & \\\hline \text { Sales } & & 5,684 \\\hline\end{array}

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