Friday, August 12, 2011

If the cost of merchandise sold was less than the sales received, how do you record in a general ledger?

Sales totaled $20,000 ($5,000 for cash and $15,000 for credit). The cost of merchandise sold was $10,000. How would I record this in my general ledger and how would I balance out the credit and debit?

No comments:

Post a Comment