[shinallsm]

This is regarding a simulation, the question doesn’t really matter, more the format. I want to know if I were to submit my answer for a FAR simulation if it would be correct, since it isn’t necessarily the “long way”

Beckers Answer Simulation Solution

Inventory $12,000

Accounts payable $12,000

Cost of sales $2,000

Accounts payable $2,000

My Answer

Debit:

Inventory 12000

Cost of Sales 2000

Credit –

A/P 14000

REG - 90 - 10/31/14
FAR - 77 - 1/3/15
AUD - 89 - 4/1/15
BEC - ?? - 5/27/15

[harris016]

I would submit it the longer way if there is 4 available spaces…in my opinion

[harris016]

I would submit it the longer way if there is 4 available spaces…in my opinion

[Anonymous]

They're most likely going to ask you to break it down in terms of parts of the entry. Like box 1 will be “enter the purchase of inventory”, and box 2 will be “enter X”.

By the way, what is the second entry for? Debit COGS and credit A/P?

[Anonymous]

They're most likely going to ask you to break it down in terms of parts of the entry. Like box 1 will be “enter the purchase of inventory”, and box 2 will be “enter X”.

By the way, what is the second entry for? Debit COGS and credit A/P?

[Author]

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