Dude Duds, Inc. is a clothing retailer specializing in affordable family apparel. Prepare journal entries...
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Dude Duds, Inc. is a clothing retailer specializing in affordable family apparel. Prepare journal entries and related adjusting entries (if any) for the transaction below for the first quarter ending March 31 of the current year. Sold merchandise with an original cost of $10,077,924 for $17,636,367 during the quarter. Of the total sales, 50% was for cash and the remainder was on account. Select one: O a. Dr. Cash $8,818,184; Dr. Accounts receivable $8,818,184; Cr. Sales revenue $17,636,367 O b. Dr. Cash $17,636,367; Dr. Cost of goods sold $10,077,924; Cr. Sales revenue $17,636,367; Cr. Inventory $10,077,924 O c. Dr. Cash $8,818,184; Dr. Accounts receivable $8,818,184; Cr. Cost of goods sold $10,077,924; Cr. Sales revenue $17,636,367; Dr. Inventory $10,077,924 O d. Dr. Cash $8,818,184; Dr. Accounts receivable $8,818,184; Dr. Cost of goods sold $10,077,924; Cr. Sales revenue $17,636,367; Cr. Inventory $10,077,924 O e. Dr. Sales revenue $17,636,367; Cr. Cash $8,818,184; Cr. Accounts receivable $8,818,184
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