On its first day of operations, the company sells $1,850 of merchandise for cash

Anonymous
timer Asked: Oct 2nd, 2015

Question description

On its first day of operations, the company sells $1,850 of merchandise for cash. The cost of the merchandise sold is $775. 

On its second day of operations, the company sells $2,300 of merchandise for cash. The cost of the merchandise sold is $4,000.


What accounts are impacted and by how much? 
Accounts:

Cash, Accounts Receivable, Supplies, Inventory, Accounts Payable, Your Name, Capital, Your Name, Drawing, Sales, Revenue, Cost of Goods Sold, Telephone Expense, Wages Expense


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