Gingerbread Corp received an advance cash payment from a customer for 40 gingerbread kits at $10 per kit. Gingerbread Corp is scheduled to deliver the kits in 30 days. What is the correct journal entry to record the sale? a.DR Accounts receivable 400 CR Sales revenue 400 b.DR Cash 400 CR Sales revenue 400 c.DR Cash 400 CR Unearned revenue 400 d.DR Accounts receivable 400 CR Unearned revenue 400

Gingerbread Corp received an advance cash payment from a customer for 40 gingerbread kits at $10 per kit. Gingerbread Corp is scheduled to deliver the kits in 30 days. What is the correct journal entry to record the sale? a.DR Accounts receivable 400 CR Sales revenue 400 b.DR Cash 400 CR Sales revenue 400 c.DR Cash 400 CR Unearned revenue 400 d.DR Accounts receivable 400 CR Unearned revenue 400

Name: 12. Gingerbread Corp received an advance cash payment from a customer
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Description: 12. Gingerbread Corp received an advance cash payment from a customer for 40 gingerbread kits at $10 per kit. Gingerbread Corp is scheduled to deliver the kits in 30 days. What is the correct journal entry to record the sale?a.DR Accounts receivable

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4MC: A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and...

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