Quiz 3 A
Quiz 3 A Group: Name (in ARABIC): ………………………………………………………………….. S.N.: Net Solution buys merchandise $1,500 on account. The journal entry(s) to record this transaction would be: A. Jan 1 Merchandise Inventory 1,500 Accounts Payable 1,500 B. Jan 1 Office Supplies Accounts Payable 1,500 1,500 C. Jan 1 Purchases Accounts Payable 1,500 1,500 D. Jan 1 Purchases Accounts Receivable 1,500 1,500 Quiz 3 B Group: Name (in ARABIC): ………………………………………………………………….. S.N.: The Corbit Corp. sold merchandise $10,000 for cash. The cost of the merchandise sold was $7,590. The journal entry(s) to record this transaction would be A. Cash Merchandise Inventory 10,000 10,000 Cost of Merchandise Sold Sales 7,590 7,590 B. Cash Sales 10,000 10,000 Cost of Merchandise Sold Merchandise Inventory C. Cash Sales Cost of Merchandise Sold Merchandise Inventory 7,590 7,590 7,590 7,590 10,000 10,000 D. Cash Sales 10,000 7,590 Cost of Merchandise Sold Merchandise Inventory 7,590 10,000 Quiz 3 C Group: Name (in ARABIC): ………………………………………………………………….. S.N.: Net Solution buys merchandise $1,500 for cash. The journal entry(s) to record this transaction would be: A. Merchandise Inventory 1,500 Accounts Payable 1,500 B. Office Supplies 1,500 Accounts Payable 1,500 C. Merchandise Inventory 1,500 Cash 1,500 D. Purchases Cash 1,500 1,500 Quiz 3 D Group: Name (in ARABIC): ………………………………………………………………….. S.N.: The Corbit Corp. sold merchandise $10,000 on account 2/10 , n/30. The cost of the merchandise sold was $7,590. The journal entry(s) to record this transaction would be A. Cash Sales 10,000 10,000 Cost of Merchandise Sold Merchandise Inventory 10,000 10,000 B. Cash Sales 10,000 10,000 Cost of Merchandise Sold Merchandise Inventory 7,590 7,590 C. Cash Sales 7,590 7,590 Cost of Merchandise Sold Merchandise Inventory 7,590 D. Account Receivable Sales 10,000 10,000 Cost of Merchandise Sold Merchandise Inventory 7,590 7,590 7,590
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