how-would-you-record-the-cost-of-goods-sold-for-yacht-b-valued-at-500000

Question

How would you record the cost of goods sold for yacht B, valued at $500,000?

Accepted Answer

Debit Cost of Goods Sold $$500,000; Credit Inventory 500$$,000

Answer

Debit Cash $$500,000; Credit Revenue 500$$,000

Answer

Debit Revenue $$500,000; Credit Inventory 500$$,000

Answer

Debit Inventory $$500,000; Credit Cost of Goods Sold 500$$,000

How would you record the cost of goods sold for yacht B, valued at \$500,000?