throughout the list, label each as either debit, credit or no entry for the following prompt....

throughout the list, label each as either debit, credit or no entry for the following prompt. "A hardware distributor ships an order of nails on account to Naperville True Value Store. Match the accounts to the correct debit and credit entries."

1. cost of goods sold

2. inventory

3. revenue

4. accounts receivable

5. freight

6. discounts, returns and allowances

7. accounts payable

8. cash

Solutions

Expert Solution

Classification

1	Cost of goods sold	Debit
2	Inventory	Debit
3	Revenue	Credit
4	Account receivable	Debit
5	Freight	Debit
6	Discount, return and allowance	Credit
7	Account payable	Credit
8	Cash	debit

ekkarill92 answered 1 year ago

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