Suppose your company sells goods for $340, of which $220 is received in cash and $120 is on account. The goods cost your company $133 and were paid for in a previous period. Your company also recorded salaries and wages of $90, of which only $34 has been paid in cash. Record the sales revenue of $200 for cash and $100 on account and record the cost of goods sold of $125 using one journal entry 2. Record the salaries and wages expense of $70. journal entry has been entered
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Home » Business » Suppose your company sells goods for $340, of which $220 is received in cash and $120 is on account. The goods cost your company $133 and were paid for in a previous period.