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jones company sold goods for $10,000 on account. the cost of the goods was $7,000. the journal entry to record the cost of the goods sold would be: answer unselected date accounts debit credit sales revenue 7,000 accounts receivable 7,000 unselected date accounts debit credit accounts receivable 7,000 sales revenue 7,000 unselected date accounts debit credit cost of goods sold 7,000 finished goods inventory 7,000 unselected date accounts debit credit finished goods inventory 7,000 cost of goods sold 7,000

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Jones Company sold goods for $10,000 on account. The cost of the goods was $7,000. The journal entry to record the sale at retail price would be Accounts Receivable $10,000, Sales Rev $10,000.

What's account?

  • In secretary, an account refers to means, arrears, income, charges, and equity, as represented by individual tally runners, to which changes in value are chronologically recorded with disbenefit and credit entries.
  • These entries, appertained to as bulletins, come part of a book of final entry or tally.

What's called retail price?

  • Retail prices are the prices that the guests buying goods at retail outlets pay.
  • Consumers respond to a lower retail price by switching their purchases of the manufacturer's product to the lower- priced retailer.

Learn more about retail price here:

https://brainly.com/question/12929999

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