Prepare the journal entry for the following transaction:
Sold $90,000 of goods to customers, receiving $65,000 in cash and the remained on account.
2. Journal Entry - Inventory 4. Land Purchased With Cash| Journal Entry 1 | |||||
|---|---|---|---|---|---|
| Cash | 65,000 | ||||
| Accounts Receivable | 25,000 | ||||
| Revenue | 90,000 | ||||
| Click Here to View All Chapter 3 Problems at Once | View | ||
| 1 | Account Classification | Easy | |
| 2 | Journal Entry - Inventory | Easy | |
| 3 |
Journal Entry - Sales
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Easy | |
| 4 | Land Purchased With Cash | Easy | |
| 5 | T/F: Liabilities and Equity | Easy | |
| 6 | Normal Balances | Moderate | |
| 7 | What Should Be Journaled | Moderate | |
| 8 | Calculating Operating Income | Hard |