Transaction analysis. Mima inc has been operation for two yars. Below find descr

ID: 2456112 • Letter: T

Question

Transaction analysis. Mima inc has been operation for two yars. Below find description of activites that occurred during y8 .

Transaction 1a- november 20 y8: mima sold 10 items of merchandise to customer a at an invoice price of $2,000 ($200 per item): terms 5/15, n/30

1. Indicate the account title ti be debited by $2,000

a. accts receivable b. cash c. cost of sales d. sales renenue e. unearned revenue

2. indicate the account title to be credited by $2,000

a. accts receivable b. cash c. cost of sales d. sales renenue e. unearned revenue

The sales is on credit term of 5/15, n/30, not a cash sale.

1. Accounts Receivable will be debited by $2,000. for the sales transaction.

So Answer is a. Accounts Receivable

2. Sales Revenue will be credited by $2,000 for this transaction.

So answer is d. sales revenue

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