Question:In BAC Company, Job No. 26 is completed at a cost of  $4,500 and later sold for $7,000 cash. A correct entry is: 

A Debit Finished Goods Inventory $7,000 and credit Work in Process Inventory $7,000. 
B Debit Cost of Goods Sold $7,000 and credit Finished Goods Inventory $7,000. 
C Debit Finished  Goods Inventory $4500 and credit Work in Process Inventory $4500. 
D Debit Accounts Receivable $7000 and credit Sales $7000. 

+ Answer
C 

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Md. Saydul Alam

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