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Annie's Fitness sells a set of free weights to a customer for which Annie's had paid $750. Which one of the following statements describes the most appropriate accounting for the transaction?
a. Debit cost of goods sold expense $750; credit cash $750 b. Debit inventory $750; credit cost of goods sold expense $750 c. Debit cost of goods sold expense $750; credit inventory $750 d. Debit inventory $750; credit accounts payable $750
Sagot :
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