On November 11, Holy Grounds Coffee sold $1,872 of coffee beans on account to a...
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Accounting
On November 11, Holy Grounds Coffee sold $1,872 of coffee beans on account to a customer, terms of 3/7, n/10. Using the average cost method, it determined its cost of goods sold on those coffee beans was $1,100.
To record only the inventory portion of the transaction (i.e., not the sales portion of the transaction), Holy Grounds Coffee would debit for ________ , and would credit _________ for ________ .
(You must write out the entire account name; do not abbreviate. Spelling matters)
(For the amount, do not use dollar signs, commas or decimals.)
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