00:01
So, we have to determine the accounts involved in the transaction.
00:05
It includes accounts receivable, this is to record the sale on account, sales revenue, to record the revenue from the side, cost of goods sold, to record the revenue from the, to record the cost of the merchandise sold.
00:43
So, record the sale on account, record the sale on account, that is debit, accounts receivable credit, accounts receivable credit is to sales revenue.
01:25
Now, to record, now it's to record the cost of goods sold, record the cost of goods sold, that is debit, cost of goods sold credit, goods sold credit or this will be inventory.
02:01
Assuming the merchandise sold was inventory...