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26 December, 22:52

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $30,800 and Job 11 $35,000. On March 31, Job 10 is sold to the customer for $42,500 in cash.

Journalize the entries for the completion of the two jobs and the sale of Job 10.

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  1. 26 December, 23:16
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    When Job is completed

    Dr. Cr.

    Finished Goods $65,800

    Work in process Job 10 $30,800

    Work in process Job 11 $35,000

    When Job 10 is sold

    Dr. Cr.

    Cash / Account Receivable $42,500

    Sales $42,500

    Cost of Goods Sold $30,800

    Finished Goods Inventory $30,800
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