On June 30, Caroline, Inc finished Job 750 with total job costs of $4,400 and transferred the costs to Finished Goods Inventory
On July 6, Caroline completed the sale of the goods from Job 750 to a customer for $6,000 cash. Which of the following is the correct entry needed to record the revenue earned?
A) debit Finished Goods Inventory $4,400 and credit Sales Revenue $4,400
B) debit Cash $6,000 and credit Sales Revenue $6,000
C) debit Sales Revenue $6,000 and credit Cash $6,000
D) debit Cost of Goods Sold $4,400 and credit Sales Revenue $4,400
B .B) Journal entry:
Cash 6,000
Sales Revenue 6,000
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