Question:
During the current month, KRC Corporation completed Job 109 and Job 112. Job 109 cost $19,000 and Job 112 costs $27,000. Job 112 was sold on account for $42,000. Journalize the entries for the completion of the two jobs and the sale of Job 112.
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Finished Goods Inventory
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46,000
|
|
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Work in Process Inventory
|
|
46,000
|
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Accounts Receivable
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42,000
|
|
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Sales
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|
42,000
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Cost of Goods Sold
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27,000
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|
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Finished Goods Inventory
|
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27,000
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