Problem
On sales accounts Many sales are made on account (on credit) instead of with cash or a credit card. Your new company purchases products for resell to customers, and your plan is to sell those products at a profit. Make the appropriate journal entries to record the sale (on account - ie., on credit) assuming your company sells 4 of those products to a single customer. (You should select any price you wish to pay to your vendor for the purchase). Be sure to include both the sale to the customer, as well as the impact of the reduction of inventory through cost of goods sold.