Question

Journalizing the entry to record jobs shipped and customers billed would include a debit to a.Cash b.Cost of Goods Sold c.Finished Goods d.Accounts Payable

Answer 1

b.Cost of Goods Sold

Step-by-step explanation:

The journal entry is shown below:

Cost of goods sold A/c Dr XXXXX

To Finished goods A/c XXXXX

(Being the jobs is shipped is recorded)

At the time of recording this transaction, we debited the cost of goods sold as it include the shipping expense and the finished goods account should be debited as the inventory is ready to sale