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Question
The journal entries for the cost and sale of a finished good on account would
a. debit Cost of Goods Sold and credit Finished Goods
b. debit Cost of Goods Sold, credit Finished Goods, debit Accounts Receivable, and credit Sales
c. debit Sales Expense, credit Finished Goods, credit Cash, and credit Accounts Receivable
d. debit Work in Process, credit Finished Goods, debit Accounts Receivable, and credit Sales
Answer
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