The Corbit Corp. sold merchandise on account for, $7,200. Corbit Corp. utilizes the periodic inventory system. The cost of the merchandise sold was $3,950. The journal entry (s) to record this transaction would be:
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Home » Business » The Corbit Corp. sold merchandise on account for, $7,200. Corbit Corp. utilizes the periodic inventory system. The cost of the merchandise sold was $3,950. The journal entry (s) to record this transaction would be: